Chainalysis is bringing organizational-level compliance to over 260,000 XRPL tokens, enabling real-time tracking, enhancing transparency, and providing deeper insights in investigations within the expanding XRP Ledger ecosystem.
Chainalysis Launches Automated Token Support for XRPL, Expanding Organizational-Level Monitoring
The blockchain data platform Chainalysis announced on September 8 that its support now extends beyond the native token XRP, providing automated token support on the XRP Ledger (XRPL). This expansion marks an important step in broadening the company's compliance and investigation tools to cover not only XRP but also a wider set of assets created within its ecosystem. By expanding monitoring, Chainalysis enables customers to track and analyze transactions on a rapidly growing network of tokens issued on XRPL.
The company detailed the integration in its statement:
With this extended integration, Chainalysis's support goes beyond the native token XRP, providing support for automatic tokens.
“This includes support for new fungible tokens (IOUs) and non-fungible tokens (XLS-20) on the network, as well as multi-purpose tokens (MPT), similar to the well-known ERC-1155 token standard. To date, this expansion covers over 260,000 supported XRPL tokens in Chainalysis and is increasing daily as new tokens are created on the chain,” the blockchain data analytics company explained.
These capabilities are currently integrated into Chainalysis KYT (Know Your Transaction), its entity screening product, and the Reactor investigation platform, equipping users with enhanced monitoring capabilities, visualizing cash flow, and identifying potentially illegal activities. Chainalysis KYC is a real-time compliance tool that monitors cryptocurrency transactions for suspicious activity and helps organizations meet anti-money laundering requirements, while Reactor allows investigators to track cash flow on the blockchain, linking wallets to entities in the real world, and uncovering illegal activities.
Launched in 2012, XRPL has processed over 3.3 billion transactions on more than 90 million blocks. Known for its low costs and fast payments, this network operates with nearly 200 validators, with Ripple playing a prominent role in its governance. Although the new monitoring features are designed to enhance compliance, market observers note that the improved transparency may also support institutional adoption of XRP and XRPL-issued tokens by alleviating risk concerns and bolstering trust in the ecosystem.
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