Paxful Integrates Chainalysis Tech to Monitor Transactions
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March 23, 2020

The P2P cryptocurrency marketplace Paxful has entered into a partnership with a blockchain analysis company Chainalysis.

The main goal of the partnership, according to an official press release, is to integrate Chainalysis' Know-your-Customer (KYT) technology to monitor the platform's cryptocurrency transactions in real-time.

Paxful also integrated Chainalysis Reactor, a solution to build investigations once the system detects suspicious activity, the release states.

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The Chief Compliance Officer at Paxful Lana Schwartzman claims by entering into the partnership with Chainalysis, Paxful has made "a great choice" as the company works to protect its clients and instill in them the importance of regulation and compliance on P2P marketplaces.

Previously iHodl reported that a South Korean cryptocurrency exchange called Bithumb also added support for the Chainalysis's Reactor solution to track suspicious activity.

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