{"id":254781,"date":"2020-03-23T22:15:29","date_gmt":"2020-03-24T02:15:29","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=254781"},"modified":"2021-07-30T02:56:00","modified_gmt":"2021-07-30T06:56:00","slug":"paxful-chainalysis-partner-to-improve-p2p-exchange-security","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/paxful-chainalysis-partner-to-improve-p2p-exchange-security","title":{"rendered":"Paxful, Chainalysis Partner to Improve P2P Exchange Security"},"content":{"rendered":"
Chainalysis and Paxful are partnering to improve the user experience of P2P cryptocurrency exchanges.<\/p>\n
Paxful, a P2P cryptocurrency exchange itself, is taking advantage of Chainalysis’ know-your-transaction technology to keep an eye on the goings-on of the platform.<\/p>\n
“Paxful uses Chainalysis KYT (Know Your Transaction) to monitor its platform\u2019s cryptocurrency transactions in real-time and Chainalysis Reactor to build investigations when it detects suspicious activity. Together, these tools amplify Paxful\u2019s compliance expertise and set a new compliance benchmark for P2P cryptocurrency exchanges globally,” a post from the group notes<\/a>.<\/p>\n This is interesting, considering that the majority of P2P exchanges can be seen as risky, according to Chainalysis – a group that investigates the space<\/a>. Thanks to that report, Paxful did whatever it could to increase its security via know-your-customer (KYC) and other policy changes.<\/p>\n Speaking on the mater is John Dempsey, the VP of Product and the analysis firm:<\/p>\n \u201cCompliance is the key factor for establishing trust in cryptocurrency exchanges. By adopting a case-by-case approach to evaluating P2P venues, we are helping to broaden trust and transparency across the cryptocurrency ecosystem.\u201d<\/p><\/blockquote>\n Overall, Paxful will be able to analyze and monitor transactions going throughout their network, no matter how large. This will ensure higher security for all users on the platform.<\/p>\n","protected":false},"excerpt":{"rendered":"