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International Business Times

Business

Marvie Basilan

Tether Partners With Chainlysis To Monitor Transactions Amid Mounting Scrutiny

Tether Chainalysis Crypto blockchain DOJ United States

Smartphone with Tether logo is placed on displayed U.S. dollars in this illustration taken, May 12, 2022. (Credit: Reuters / DADO RUVIC)

KEY POINTS

The solution is expected to provide Tether with more oversight of the USDT market
It will also allow Tether to monitor the transactions of "significant" USDT holders
Tether was recently in the spotlight over the USDT's alleged use in a sanctioned crypto exchange

Blockchain-enabled platform Tether, which is behind the stablecoin titan Tether (USDT), has just announced a partnership with prominent blockchain analysis firm Chainalysis to improve its compliance practices by monitoring "secondary" transactions.

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