The cryptocurrency exchange Coinbase запустила a new suite of products aimed at preventing illicit transactions and meeting regulatory requirements.
The initiative is named Coinbase Intelligence. It comprises Coinbase Know Your Transaction (KYT) and an update to the existing Coinbase Analytics offering.
The first tool enables companies to detect illicit transactions via an API. Using a scoring system, KYT also helps monitor operations in real time to mitigate risk.
The system used for analyzing transaction data, Coinbase Analytics, has been renamed Coinbase Tracer. The tool is now available to external organisations to track flows of funds and reduce fraud.
We have also refreshed our user interface. It is more user-friendly and visually appealing., the blog post states.
Earlier in 2020, the U.S. Secret Service signed a four-year contract to use Coinbase Analytics (formerly Neutrino).
Subsequently, the product drew interest from the DEA, IRS and ICE.
Coinbase acquired Neutrino in 2019. Following the acquisition, the company faced criticism — the founders of the Italian startup were involved with Hacking Team, which sold surveillance software to dictatorial regimes.
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