Robinhood partners with Chainalysis to ensure Robinhood crypto wallet meets regulatory requirements
In the announcement, Chainalysis said an integrated partnership with Robinhood Crypto will help the merchant app meet the requirements ahead of the launch of its cryptocurrency wallet. According to Robinhood, the platform will adopt a “Know-Your-Transaction” solution from Chainalysis to monitor compliance. The app will also add Chainalysis Reactor, an investigation software.
In addition, the company said its teams will use Chainalysis certification programs to achieve regulatory compliance.
“Chainalysis is working closely with regulators and law enforcement to develop industry best practices, and this approach aligns with Robinhood’s commitment to working with regulators,” said Ben Einstein, head of partnerships at Robinhood Crypto.