Abstract
- Add Elliptic as a Tier4 SV (Weight 0.5)
- Elliptic commits to provide on-chain AML monitoring of Canton Coin transactions and USDC by no later than 6 months after the approval of this CIP
- Elliptic commits to join as a General Member of the Global Synchronizer Foundation
Copyright
This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal
Motivation
- On-chain AML monitoring is critical for supporting parties in the Canton Network that wish to send/receive Canton Coin as a regular part of their business
- On-chain AML monitoring helps senders de-risk outbound transactions by having a better understanding about the legitimacy of the destination address
- Inbound Canton Coin transfers come with information regarding the safety of the incoming Coins from an AML perspective
- Absent this capability, institutional participants will be limited and hesitant to use Canton Coin as part of their ordinary business activities
- Elliptic is one of the requested AML providers by Circle
About Elliptic
- At Elliptic, we believe cryptocurrency will play a huge role in the future of value transfer, and we care deeply about helping to build this future. As digital assets and cryptocurrency become more widely adopted, our products are essential to ensure cryptocurrency is safe and accessible to all.
