Circle Launches Compliance Platform for Web3 Apps
Circle, the issuer of the USDC stablecoin, launched a compliance platform for blockchain applications. The new product includes tools for transaction monitoring and KYC compliance.
Jeremy Allaire, CEO of Circle, spoke about the launch of Compliance Engine , a new platform that will enable blockchain companies to meet stringent regulatory requirements.
Circle’s Compliance Engine solution includes the following key features:
- Real-time transaction monitoring — automated compliance checks.
- Rule customization — creating personalized policies for compliance audits.
- Integration with Circle’s programmable wallets — ensuring transaction security.
- Allowed and Blocked Address Lists — managing addresses to prevent suspicious activity.
- Support for KYC and regulatory standards — helping comply with international requirements such as the Travel Rule .
- Reports and investigations — tools to analyze data and identify violations.
According to Allaire, Circle evolved its compliance capabilities over the past decade and now offers these tools to developers and operations teams working on financial Web3 apps. Compliance Engine extends the functionality of existing blockchain solutions for developers, including a programmable wallet and smart contract platform fully integrated with the company’s flagship product, the USDC stablecoin. The new service will be available on the Ethereum, Polygon, Solana, and Avalanche blockchains.
Regulatory compliance is a priority for Circle as the company prepares to go public . In this regard, Circle even withdrew its support for the TRON blockchain, which was named as one of the key nodes of the illicit crypto economy in 2023.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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