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Robinhood partners with Chainalysis to launch crypto wallet

13 Dec 2021 : 10:59
2 min read
  • Blockchain analytics firm Chainalysis is partnering with Robinhood to provide trading tools and data
  • The partnership with Robinhood Crypto will allow the trading app to meet compliance
  • Chainalysis helps governments and the private sector detect and prevent the illicit use of cryptocurrencies

Blockchain analytics firm Chainalysis is partnering with Robinhood to provide trading tools and data ahead of the app’s launch of its crypto wallet

Partnership will allow Robinhood to meet compliance

In an announcement Monday, Chainalysis said its partnership with Robinhood Crypto will allow the trading app to meet compliance requirements ahead of the launch of its crypto wallet, which is expected to roll out to all users in early 2022. Robinhood will use Chainalysis’ Know-Your-Transaction, the company’s compliance monitoring solution, and Chainalysis Reactor, the company’s investigative software.

Commenting on the partnership, Ben Einstein, Head of Partnerships at Robinhood Crypto, said: “Chainalysis works closely with regulators and law enforcement agencies to develop best practices for the industry. This approach reflects Robinhood’s commitment to working in partnership with policymakers.”

What is Chainalysis?

Founded in 2014 by co-founders Michael Gronager and Jonathan Levin, Chainalysis is a blockchain-based data platform that helps governments and the private sector detect and prevent the illicit use of cryptocurrencies. For this reason, many government agencies and private sector companies use Chainalysis as a solution to track legal and illegal cryptocurrency transactions.

The Robinhood crypto wallet was released to select users in October 2021. According to Robinhood, more than 1.6 million people are on the waiting list for a wallet that supports deposits and withdrawals of various cryptocurrencies, including Bitcoin and Ethereum. For more information on the Robinhood crypto wallet, click here.


About Author

Stan Colenbrander

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Stan is the head of news and podcast host at Cryptonary. He was formerly a member of the Cryptonary Pro community. In early 2021, he decided to drop out of journalism school at university to pursue journalism in real life and make an impact in the crypto space. . His areas of interest include the NFT industry, decentralised finance, and crypto start-ups.

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