CertiK, a company specializing in blockchain and smart contract security, has launched SkyInsights, a crypto risk management and compliance tool designed to address the compliance and risk management needs of Web3 firms and stakeholders. As global regulations around anti-money laundering (AML) and combating the financing of terrorism (CFT) tighten, the demand for such tools is increasing.
Key features of SkyInsights:
- Real-Time Databases: SkyInsights leverages CertiK’s extensive databases, enriched with more than two billion wallet addresses and smart contract labels and over 150 label categories. This wealth of data provides users with a comprehensive view of transaction and counterparty risk.
- Transaction Monitoring: The platform offers robust wallet screening capabilities and allows users to gain a deep understanding of transactions. It provides real-time alerts and automatic audit trails, making it easier for businesses to monitor and address potential compliance issues.
- Integration: SkyInsights seamlessly integrates with CertiK’s suite of security services, reinforcing CertiK’s commitment to end-to-end security in the Web3 space. It covers various layers of the Web3 stack, from smart contracts to wallet addresses and on-chain transactions.
- Compliance as a Process: CertiK emphasizes that crypto compliance isn’t just about ticking regulatory boxes; it’s a streamlined process that protects firms with cryptocurrency exposure and enhances the integrity of the industry. SkyInsights ensures accurate and timely alerts.
- Collaboration with BitMart: BitMart, a cryptocurrency trading platform, is the first to adopt SkyInsights. The collaboration aims to enhance data accuracy and coverage, promote security, and advance technology standards for the Web3 industry.
- Security Incident Monitoring: CertiK has a track record of detecting security incidents in the blockchain space, having identified over 1,100 incidents involving a total loss of $4.8 billion since 2022. SkyInsights benefits from this expertise.
- Audits and Assessments: CertiK has audited over 4,100 Web3 projects, identified nearly 70,000 vulnerabilities in blockchain code, and safeguarded digital assets valued at nearly $370 billion.
SkyInsights aims to provide Web3 ventures with the tools to concentrate on their core operations while ensuring their compliance needs are met in a secure and transparent manner. This launch reflects the growing importance of crypto compliance and risk management as the industry matures and regulatory scrutiny increases.
By FCCT Editorial Team