3 months ago
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Elliptic’s services will come in very handy for Catizen in its ongoing efforts to monitor all transactions within its ecosystem.
Catizen, one of the fastest-growing mini-games on Telegram and within the TON ecosystem, is concerned about keeping its ecosystem safe and compliant. In keeping with this goal, it has announced that it is forming a new partnership with Elliptic, a top supplier of know-your-transaction (KYT) and anti-money laundering (AML) services for the cryptocurrency industry.
For what it’s worth, Catizen has recently seen its ecosystem grow remarkably, particularly following the launch of its mini-game center. The success is seen in what might be Catizen’s second wave of user growth and revenue.
But as the platform gets ready for this next stage of growth, it has become increasingly important that it also gets ready to manage extensive on-chain compliance.
Catizen Taps Elliptic to Elevate Compliance Standards
In a bid to maintain compliance at all levels, even as it continues to grow rapidly, Catizen has found the perfect partner in Elliptic. Elliptic, meanwhile, is well-known in the industry for its advanced compliance solutions. Its reputation is widely recognized to the point that crypto industry giants, including Binance and Coinbase, have employed its services in the past.
With this new collaboration, Catizen will be hoping to bring its compliance infrastructure to the same levels being used by most of these major crypto exchanges.
For the top Telegram mini game, this partnership offers it the chance to better manage the complexities of on-chain compliance. That is, as it also ensures that its platform remains safe for it fast-growing user base.
The team also noted that these compliance efforts will not come at the cost of user experience. Part of the official statement reads:
“We are committed to providing Telegram’s 950 million users with a safe and secure environment without compromising any of the user experience.”
So, invariably, the platform is reiterating its dedication to maintaining trust and security even as it continues to scale.
Importance of Compliance Amid Growth
As earlier noted, Catizen’s growth has been one for the headlines. Since the launch of its mini-game center, the platform has continued to see surges in both its user engagement and revenue. So much so, that Catizen now boasts as one of, if not, the hottest game within the TON ecosystem.
However, as is well known, growths such as this may have their downsides. That is because the platform will attract both good and bad users. So, for the platform to maintain its integrity and protect its real users, there’s a need for stringent compliance measures. Particularly, at this point in time.
Elliptic’s services will come in very handy for Catizen in its bid to realize its dreams. That is as it pertains to its ongoing efforts to monitor all transactions within its ecosystem and ensure that they remain within the dictates of the highest compliance standards.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.
