Ripple And Its Blockchain Get Official Support From Chainalysis

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • Chainalysis officially announced its extended support to Ripple and its Blockchain services on its twitter account on the 12th of February.
  • The active users of Chainalysis software are UNODC, Binance, Korbit, Barclays, Europol, BitPay, Bitstamp, and Square.
  • Chainalysis’s first goal supporting XRP is to check out all the scams and hacks occurring and evade them from hampering the growth of the XRP community.

Chainalysis officially announced its extended support to Ripple and its Blockchain services on its twitter account on the 12th of February. Chainalysis is a Blockchain analysis individual body for exchanges, government, and financial institutions.

The support launch is carried out with XRP systems and the exchanges where XRP is supported to roll out major identified XRP scams and hacks within the next few weeks. Previously, Xpring platform of Ripple had added Chainalysis to its ecosystem in October 2019.

Chainalysis is known for providing world-class software support for the leading banking and financial systems businesses, and governments and it empowers its customers to derive insights they can act on for compliance and investigative purpose.

The active users of Chainalysis software are UNODC (United Nations office of drugs and crime), Binance, Korbit, Barclays, Europol, BitPay, Bitstamp, and Square. The US government has preferred Chainalysis over investigative and analytical purposes regarding the cryptocurrency space.

It has now made almost Million of Dollars worth of business with the US Government in the same space. Federal agencies alone have spent at least $10 million in American tax dollars to integrate Chainalysis’s tools, services, and training since 2015 of the crypto era.

Since the company Chainalysis was found, the number of business contracts regarding the cryptocurrency investigation to regulate and forward bill by the governments are increasing.

Chainalysis’s first goal supporting XRP is to check out all the scams and hacks occurring and evade them from hampering the growth of the XRP community; this is very much required as the Ripple’s on-demand liquidity greatly is dependent on exchange platforms.

After the threats are evaluated, Ripple might add more on-demand liquidity partners and introduce and improvise the on-demand liquidity (ODL) in many countries. Users under ODL also rely on the framework greatly.

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