Copy link
Increase text size
Decrease text size
Link copied

Chainalysis' Krytpos software to help financial players mitigate risks in crypto space

Chainalysis is currently developing the Krytpos software in order to bring transparency into cryptocurrency markets and players, helping financial institutions to better understand their current risk exposure and provide banking services to cryptocurrency

Image via Chainalysis Facebook Page

Wed, 13 Nov 2019, 08:28 am UTC

Since blockchain and cryptocurrency entered the global stage, financial institutions have been curious enough to investigate the nascent technologies, determining how it can be leveraged in their respective businesses. However, actually joining the crypto space has been difficult for these curious players since the industry is rife with illegal activities and regulators are imposing stifling restrictions on it.

To alleviate this problem, blockchain analysis company Chainalysis is currently developing a software that would provide institutional players insights on how to calculate the risks involved in the budding market. Data on the software is built upon the reference data standard that’s already proven itself to government sectors and businesses operating in the crypto space.

With the help of this product, institutions can make educated decisions on the industry and create risk assessment methods that can mitigate their exposure. Chainalysis Co-Founder and Chief Strategy Officer Jonathan Levin said that Kryptos ability to provide data transparency will be a crucial help to the emergence of the crypto movement.

Software to provide shields to investors

“Our data puts us in a position to help financial institutions enter the cryptocurrency market safely and responsibly. Not only does Kryptos help them mitigate risk and access new high-growth markets, but it will also help cryptocurrency businesses build trust with their banks. All players in the cryptocurrency ecosystem stand to benefit from increased transparency,” Levin said in a press release published on Nov. 12.

The software has now joined KYT (Know Your Transaction) and Reactor as products that specifically cater to institutional investors. KYT is a software that provides real-time tracking that can help identify illicit activities in crypto exchanges. Reactor, on the other hand, is a product that aids authorities in mapping out suspicious movements of funds in the digital space, which can ultimately lead to the apprehension of criminals.

Kryptos to launch in early 2020

Suffice to say that Kryptos’ arrival in the crypto industry is going to be a boon for investors since transparency and data analysis are the foundations of financial ventures. At the moment, the software is still in its development phase.

However, the beta version is already available but a few key features are still missing. Kryptos is slated to launch in the early quarter of 2020.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,014.17 (+4.39%)
  • Ethereum (ETH) $172.04 (+2.47%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $364.58 (+1.19%)
  • Bitcoin SV (BSV) $301.90 (+6.83%)
  • Bitcoin (BTC) $9,014.17 (+4.39%)
Jan 28, 2020 (Tuesday)
07:34
Crypto Technicals: LTC/USD pivotal at 200-DMA (62.19), 'Golden Cross' on hourly charts raises scope for upside
07:34
Transfer agent Vertalo switches to Tezos from Ethereum
07:06
Crypto Technicals: ETH/USD hovers shy of 200-DMA (176.06), poised for further gains
04:36
Crypto Technicals: BTC/USD extends break above 200-DMA, $10,000 level in sight
04:36
Iran issues over 1,000 licenses to cryptocurrency miners: Report
04:10
Swiss banking giant Julius Baer launches digital asset services
Jan 27, 2020 (Monday)
15:51
Blockchain startup SettleMint raises €1.9M from KPN Ventures and Medici Ventures
14:05
Bitcoin Gold blockchain suffers 51% attack, $70k worth of crypto double spent
13:24
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:24
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:53
Accenture launches blockchain-based marketplace to onboard suppliers
11:50
Crypto Technicals: LTC/USD holds cloud support, shows signs of upside resumption
11:13
South Korean military taps Raonsecure for blockchain-based biometric ID solution
10:21
Indian securities regulator SEBI sees potential in blockchain technology, calls for more active research
08:22
Australian crypto exchange Independent Reserve expands to Singapore
08:05
Hawaiian lawmakers seek to allow banks to offer crypto custodial services
07:24
Crypto Technicals: ETH/USD consolidates weekend gains, break above 200-DMA (176.56) to fuel further upside
07:23
Dubai Multi Commodities Center to establish Crypto Valley to boost blockchain ecosystem
05:58
World Economic Forum announces new global consortium for cryptocurrency governance
05:15
Ukraine to block crypto wallets and seize illegally obtained assets
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft