In July’s platform update, the Crystal analytics team has added support for Ripple currency monitoring, as well as upgrading compliance categorizations for named exchanges.
Ripple Support Now Available!
The Crystal team is delighted to announce that we have added one more currency to the platform. From 30 July 2020, we are providing support for Ripple currency.
This support will be introduced in several stages:
Compliance Categorization for Exchanges
From July, we will also be upgrading the categorization of exchanges on the platform to enhance configurability and strengthen compliance procedures.
As such, we will no longer use the categories “Exchange”, “Trusted Exchange”, and “Risky Exchange.” Instead, we are introducing categories based on exchange KYC/ AML policies.
The new categories will be as follows:
“Risky Exchange” will become “Fraudulent Exchange” and this includes any exchanges involved in exit scams, illegal behavior, or who have had funds seized by the government.
For Crystal API Users:
If you are using Crystal API for integration, please update your software accordingly.
Visualization by Entity for Customers
We have introduced a visualization for customer monitoring. With the help of this tool, you can now build a visualization by entity, with a customer as an entry point. You can add all transfers associated with the customer onto the visualization canvas and work with them as you would with a regular visualization.
This tool allows users to investigate the source and the destination of a particular customer’s funds more thoroughly, gathering information that they can then export in a convenient format through our visualization export solution.