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Chainalysis Extends XRP Ledger Support In Latest Move – What’s New?

Chainalysis is extending its support for the XRP Ledger and the new coverage goes beyond the native token. Customers now get more ways to follow token activity and check transactions. With Chainalysis adding this extended support, users now have stronger ways to interact with one of the most active blockchains in the market.

Chainalysis Expands Coverage For XRP Ledger

In its announcement, Chainalysis explained that automatic token support now includes fungible tokens such as IOUs, non-fungible tokens under the XLS-20 standard, and multi-purpose tokens, also known as MPTs. MPTs operate like Ethereum’s well-known ERC-1155 tokens. The update means many different kinds of assets on the XRP Ledger are now covered.

The company also shared that more than 260,000 tokens are already supported. As developers create more tokens on the blockchain, the total number increases daily, showing the steady activity and expansion of the XRP Ledger.

Chainalysis added that customers can now use its KYT (Know Your Transaction) service to monitor these tokens. KYT gives real-time alerts, continuous tracking, and compliance checks. Chainalysis KYT now keeps a close eye on a wide range of XRP Ledger assets, making activity on the network easier to monitor and safer to engage with.

Stronger Tools For Compliance And Investigations

Chainalysis also highlights that its expansion links directly to the company’s main investigative products. The extended coverage is now available through Reactor, the platform designed for in-depth transaction reviews and its entity screening services. 

Customers can now use the Chainalysis Reactor tool and entity screening products with XRPL tokens. They can visualize transactions in detail and act quickly if they notice risks. Customers can now track token flows, see how money moves, and identify signs of suspicious activity. 

Chainalysis noted that the XRP Ledger is well-known for facilitating fast and low-cost cross-border transactions, making it one of the most trusted blockchains today. The network has handled more than 3.3 billion transactions across over 90 million blocks. 

Its native token remains among the top digital assets by market value and is supported by a large global community. The Ledger itself continues to show strong performance. Nearly 200 validators worldwide support it, which are independent nodes that confirm transactions, with Ripple named as a key contributor. 

The Chainalysis update will make oversight on the XRP Ledger easier at a time when the number of tokens is skyrocketing. Customers can now use its Reactor tool to check XRPL tokens, follow how funds move, and help keep the network secure.

With the latest support from Chainalysis, the ledger becomes even more transparent, and customers now have safer and stronger ways to follow the growing number of tokens that developers are adding to the blockchain. 

XRP price chart from Tradingview.com

from Bitcoinist.com https://ift.tt/E2IgsYW
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