Popular brokerage app Robinhood Crypto has partnered with Chainalysis ahead of the launch of the Robinhood Crypto wallet.
Chainalysis will help the company identify risky transactions in real time and provide greater scrutiny of suspicious activity on the platform. Integrating software from Chainalysis will help the platform meet anti-money laundering and counter-terrorist financing standards and comply with FATF regulations.
Chainalysis has long been known for its close collaboration with regulators to develop tools for monitoring trading activities.
Testing of the crypto wallet began in September of this year. More than 1.6 million people are on the waiting list. The wallet will enable direct cryptocurrency deposits and withdrawals from the Robinhood platform, a critical feature that is currently unavailable.
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