This partnership isn’t just about ticking regulatory boxes; it’s about building trust in the burgeoning crypto ecosystem. By integrating Elliptic’s advanced screening and risk intelligence directly into Wallet, users are getting a significant upgrade in protection against fraud and illicit activities.
Wallet in Telegram, launched in 2021, aimed to simplify digital asset transfers for its users. Now, with Elliptic Lens integrated, the platform gains a powerful shield against malicious actors. Think of it as a digital bouncer, ensuring only the good guys get through.
The integration provides real-time screening and risk monitoring across a wide range of digital assets. From stablecoins and TRC-20 tokens to major networks like Bitcoin and Ethereum, and even the TON Network, Elliptic’s watchful eye covers almost every corner of the crypto landscape.
Key Features of the Elliptic Integration
- Real-time Screening: Continuously monitoring transactions for potential risks.
- Customizable Scoring: Detecting and blocking suspicious patterns of activity.
- Entity Identification: Identifying illicit actors across 70+ categories.
This isn’t just theoretical; the partnership is already bearing fruit. Elliptic’s technology has enabled the identification of over a million previously unknown addresses linked to illicit activities across various blockchains. That’s a whole lot of digital bad guys getting caught in the net.
“Wallet’s growth reflects the mainstream adoption of crypto, and our mission at Elliptic is to ensure this adoption is safe, transparent, and trusted,” said Jackson Hull, CTO of Elliptic.
The sheer scale of Wallet in Telegram, boasting over 100 million users, makes this partnership particularly significant. It demonstrates a commitment to responsible growth within the crypto space. As Akila Atapatthu, Global MLRO at Wallet in Telegram, put it, Elliptic’s expertise was the “clear partner of choice” to meet the highest regulatory standards.
Elliptic prides itself on offering the broadest blockchain coverage in the industry, spanning over 250 cross-chain bridges and covering 98% of liquid crypto assets. This comprehensive approach is crucial in today’s complex and interconnected crypto world.
In a space often plagued by regulatory uncertainty and security concerns, this collaboration signals a shift towards greater accountability and user protection. It’s a win for Wallet in Telegram, a win for Elliptic, and, most importantly, a win for the future of crypto.
