Elliptic To Monitor Tokens On Binance Chain

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Elliptic (Courtesy: CryptoMoonPress)
Elliptic (Courtesy: CryptoMoonPress)

Elliptic, a blockchain forensic firm, is set to monitor its native cryptocurrency, Binance Coin (BNB), through its crypto risk monitoring solutions, they announced through a press release.

“Elliptic’s crypto transaction and wallet monitoring solutions, Navigator and Lens, automate compliance monitoring for BNB so that Binance and other exchanges listing this token can scale operations efficiently and improve accuracy in detecting suspicious activity on the blockchain,” stated the press release.

The partnership which has been extended will also see new BEP-2 standard tokens—that are issued and implemented on Binance Chain—the option to also be monitored by Elliptic.

“Elliptic will, in future, be able to provide crypto compliance monitoring to issuers using the Binance Launchpad to launch new BEP2 tokens on the Binance blockchain,” the firm noted.

It also means that those issuing tokens on Binance Chain will be able to get compliance monitoring if they so desire.