Skip to content

ConsenSys launches DeFi-focused compliance service

June 9, 2020

ConsenSys, the company of Joseph Lubin, the co-founder of Ethereum, launches a compliance service to monitor transactions by DeFi companies and exchange trading tokens issued on Ethereum.

According to an article by Bloomberg that was released on June 8, the company has for decentralized application development ConsenSys announced plans to launch a decentralized finance project (DeFi) and cryptocurrency exchange service Analysis of token transactions issued on the Ethereum network.

The ConsenSys service will be able to monitor users’ transactions of more than 280,000 coins issued in Ethereumwith a focus on DeFi exchanges and companies.

ConsenSys launches DeFi-focused compliance serviceConsenSys launches DeFi-focused compliance service

“More and more people are building decentralized applications that need this as part of Lego,” said Lex Sokolin of ConsenSys. “We are trying to track decentralized financial infrastructure activities much more securely, transparently, and easily.”.

We only focus on tokens issued by Ethereum

Especially, ConsenSys does not seem to enter the compliance market with tokens that are issued in the Bitcoin (BTC) blockchain, but only in the Ethereum blockchain.. Cointelegraph reported in April that Securitize, supported by Coinbase, is expanding its compliance services through smart contracts in the Ethereum blockchain.