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ConsenSys starts compliance service focused on DeFi

 

ConsenSys, the company of Joseph Lubin, the co-founder of the Ethereum, is launching a compliance service to monitor transactions made by DeFi companies and exchange trading tokens issued at the Ethereum.

According to a Bloomberg article published on June 8, the decentralized application development company ConsenSys announced that it would launch a service for decentralized finance projects (DeFi) and crypto-currency exchanges to analyze transactions of tokens issued on the Ethereum network.

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The ConsenSys service will be able to monitor user transactions of more than 280,000 coins issued at Ethereum, focusing on DeFi exchanges and companies.

„More and more people are building decentralized applications that need this as a piece of Lego,“ said ConsenSys‘ Lex Sokolin. „What we are trying to do is make activity in the decentralized financial infrastructure much more secure, transparent, much easier to track.

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We only focus on tokens issued by Ethereum
Notably, ConsenSys does not appear to be entering the market for token compliance issued in the Immediate Edge, but only in the Ethereum blockchain. Cointelegraph reported in April that Securitize, backed by Coinbase, was expanding its compliance services using smart contracts on the Ethereum blockchain.