Chainalysis is building a crypto-space risk data clearinghouse for financial institutions.
Its new Kryptos platform will help institutions parse regulatory hazards and build risk assessment models.
Kryptos âis our step towards financial institutions, so they can have the transparency they need to build risk management programs and integrate into the crypto economy,â Chainalysis co-founder and COO Jonathan Levin said.
Itâs the blockchain analysis firmâs first product to specifically target institutional players, joining KYT, the exchange-facing anti money laundering software, and Reactor, which helps investigators trace criminal money flows.
Those products help governments, crypto companies and investigators analyze their sectors of the crypto economy, Levin said. But while those entities grasp the larger crypto ecosystem, crypto-curious investors, including the banks and advisors not already involved, have no clear point of entry.
That could stymie investment. Chainalysisâ solution: build a âtrusted and referencedâ dataset for new market entrants.
Levin said:
âIf you are in a financial institution and trying to understand who the major players are what assets are trading where they are registered, how their activity looks on the blockchain, and how to make sure youâre managing your risk appropriately, youâll log into Kryptos and see those top counterparties youâll be wanting to do business with.â
The product, still in beta and set to launch early next year, features a mix of manually-collected data to give them that view. Chainalysisâ employees compile and update reams of regulatory, compliance, and business interest information in one place.
Levin said:
âWe find that Kryptos is a good way for someone to get that high level overview, really a good starting point for someone to do a deeper dive investigation.â
That, he claimed, is good for everyone: âAll players in the cryptocurrency ecosystem stand to benefit from increased transparency.â
Data storage image via Shutterstock