- Chainalysis has announced integration with Unichain, a DeFi-focused Ethereum layer 2 network developed by Uniswap Labs
- This partnership enables Chainalysis to provide compliance and investigative support for all tokens on Unichain, including ERC-20, ERC-721, and ERC-1155 standards
- Chainalysis will now monitor Unichain transactions to detect high-risk behaviors and prevent suspicious activities
In a move to bolster security and compliance in the decentralized finance (DeFi) sector, Chainalysis has announced its integration with Unichain, a DeFi-centric Ethereum layer 2 solution developed by Uniswap Labs. This collaboration allows Chainalysis to support all token standards on Unichain, providing tools to monitor transactions and identify potential illicit activities. The integration aims to foster greater trust and safety for users engaging with Unichain’s rapidly expanding network.
Cheaper, Faster, and Now More Secure
Unichain is designed to offer enhanced speed, cost-efficiency, interoperability, and decentralization for users engaging in decentralized trading. Since its launch, the protocol has attracted nearly 100 crypto companies and protocols, including prominent names like Coinbase, Circle, and Lido.
Through this partnership, Chainalysis extends its automatic token support to all fungible and non-fungible tokens adhering to ERC-20, ERC-721, or ERC-1155 standards on the Unichain network. This expansion significantly broadens the scope of compliance and investigative workflows available to Chainalysis customers. By integrating with Unichain, Chainalysis aims to promote the adoption of the network while ensuring safety and trust for its users.
Enhanced Security Measures with Chainalysis KYT
The integration enables Chainalysis KYT (Know Your Transaction) to monitor Unichain transactions in real-time, providing actionable alerts and continuous oversight to detect high-risk behaviors and prevent suspicious activities. Additionally, Unichain addresses will now be included in Chainalysis’s entity screening products, facilitating comprehensive wallet address screening.
Chainalysis’s flagship investigation tool, Reactor, is also updated to allow customers to trace the flow of funds across Unichain, visualize fund movements, and identify potential illicit activities.
The blockchain analysis firm states that this collaboration underscores its commitment to enhancing transparency and security within the cryptocurrency ecosystem, particularly as Unichain continues to grow and attract a diverse array of projects and users.
