USDC issuer Circle launches onchain compliance platform
It’s an important step toward winning the tokenized RWA market as Circle continues to vye with stablecoin leader Tether.
Circle Internet Financial, the issuer of U.S. Dollar Coin (USDC), has launched a suite of blockchain-based compliance products designed to help “companies build onchain while meeting rigorous demands for compliance,” according to a Sept. 24 social media post by Circle CEO Jeremy Allaire.
The platform, called Compliance Engine, includes transaction screening and monitoring tools to identify suspicious transactions and a service specializing in compliance with Know Your Customer (KYC) requirements such as the United States’ Travel Rule, Allaire said.
“We’ve built up tremendous capabilities in this area over the past decade, and we’re now taking those capabilities and exposing them to developers and operations teams that are building financial applications onchain,” Allaire said.
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Author: Alex O’Donnell
