Chainalysis has implemented new analysis capabilities within the XRP Ledger, supporting various types of digital assets and deepening transaction oversight.
Support for Various Asset Types
Chainalysis has expanded its coverage beyond the native XRP token to include a wide range of asset types such as fungible IOUs, non-fungible tokens (NFTs) under the XLS-20 standard, and multi-purpose tokens (MPTs) similar to Ethereum’s ERC-1155. Currently, over 260,000 tokens are under watch, with new ones emerging daily.
KYC and Investigation System
The Know Your Transaction (KYT) system from Chainalysis now applies to this broader asset base. It provides real-time alerts, compliance checks, and continuous monitoring. Additionally, investigators can utilize Chainalysis Reactor to map token movements, spot unusual activity, and connect addresses across XRPL.
Enhancing Security of XRPL Network
By integrating its compliance and investigative tools directly into the token layer of XRP Ledger, Chainalysis aims to create a safer environment for businesses, regulators, and end-users alike. As XRPL solidifies its role as one of the most active blockchains, this updated transparency could foster trust as adoption widens.
Chainalysis is making significant strides in analysis and compliance within XRPL, which could lead to increased trust and security on the platform.
