Moody’s, a financial research and ratings firm, has partnered with Elliptic, a blockchain analytics firm to offer improved risk screening for Virtual Asset Service Providers (VASPs).
This partnership offers more detailed insights into VASPs by combining financial data from both traditional and digital sources in one easy-to-use platform.
The service integrates data such as digital asset transaction histories, financial records, and regulatory information into a single platform. The aim is to provide a clearer understanding of potential risks, especially as traditional finance increasingly intersects with the digital asset space.
Moreover, Elliptic specializes in tracking on-chain data, monitoring over 1,000 VASPs, and scanning digital transactions for illegal activities.
Moody’s on the other hand adds its large off-chain database, which includes information on more than 21 million risk profiles and 51,000 sanctioned entities. Together, these resources create a combined risk engine that helps financial institutions stay compliant with anti-money laundering (AML) and Know Your Customer (KYC) regulations.
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