1500+ ERC-20 tokens (including 60+ DeFi protocols) now supported by Crystal

by the Crystal analytics team

Oct 29, 2020

ETH token and DeFi protocols support

In the latest product update, we introduce the support of ETH token transfers in the monitor tool. More than 1,500 ERC-20 tokens, including 60+ DeFi tokens (Yearn.Finance, Uniswap, and Wrapped BTC, etc.) will now be supported on the platform.

What is a DeFi token? DeFi stands for decentralized finance. This is an experimental form of peer-to-peer finance running on the Ethereum blockchain. Decentralized finance has become one of the most active sectors of blockchain, offering a wide range of use cases to users.

So now, if a token is transferred within a transaction, the user will be able to add such transfers to the monitor and retrieve all necessary values such as Risky Amount or Counterparty Risk Score calculations.

This feature allows cryptocurrency compliance officers to check all ERC-20 token transfers to attain a more detailed profile of a particular customer/s.

Internal Ethereum transaction monitoring

Users will now be able to add “internal addresses” or internal Ethereum transactions to the Monitor. The user specifies the transaction hash and the destination address. The system will then calculate amounts eg. risk scores, risky inflows, and fiat amounts received by the address.

This feature will allow compliance officers to check funds transferred via internal transactions.

Monitor data and report exporting

In this release, we have also implemented the exporting of monitor data. This feature allows users to export any reports based on a single transfer, multiple transfers, or customers.

The transfer reports include all available transfer data as well as alert settings and risk score profile data, with time periods for activity. The customer report includes customer data, all/direct connections tables, and a transfer list with alert settings, and risk score profile snapshots.

This feature is designed for Know Your Customer (KYC) officers who can then share as needed the required data with Law Enforcement Agencies (LEA), regulators, or colleagues.

We are currently redesigning our Monitor feature to make it even more intuitive and user-friendly for our clients. Users will see some initial changes to the platform experience in this update, and we look forward to sharing more updates to the user interface with you over the coming months.

See the Crystal Blockchain platform in action. Get a demo today.

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