Point-to-point exchange Paxful will use Chainalysis analysis tool to identify and investigate high-risk transactions

Blockchain analysis company Chainalysis announces partnership with peer-to-peer cryptocurrency exchange Paxful to help improve compliance. As part of the partnership, Paxful will use Chainalysis’ “Know Your Transaction (KYT)” and a compliance tool called “Reactor” to identify and investigate high-risk crypto transactions. It is worth noting that this is the first time Chainalysis has cooperated with a P2P cryptocurrency exchange. At present, Paxful accounts for about 25% of all P2P cryptocurrency activities. Paxful is also the only P2P exchange that Chainalysis works with. Chainalysis states that it “willing to cooperate with more P2P exchanges.” In addition to Paxful, other exchanges that use Chainalysis software to monitor suspicious transactions include Bitfinex, Binance, and Bittrex.