Merkle Science joins forces with Stellar Development Foundation to Enhance Web3 Risk Mitigation and Compliance Capabilities
This partnership brings Merkle Science’s institutional-grade suite of risk management and investigative tools to the Stellar network.
NEW YORK, Nov. 16, 2022 /PRNewswire/ — Merkle Science, a predictive Web3 risk & intelligence platform, today announced a partnership with Stellar Development Foundation (SDF), the non-profit that supports the growth and development of the Stellar network, a leading decentralized blockchain designed for speed, affordability, and utility. In connection with this partnership, Merkle Science is bringing its industry-leading compliance product, Compass, to the Stellar network.
The partnership comes amid ongoing security and compliance challenges in the Web3 space. These challenges have grown in parallel with the growing industry – in the past few months alone, increased interoperability between blockchains has attracted a notable rise in high-profile hacks worth hundreds of millions of dollars.
By bringing Compass, a behavior-based transaction monitoring and risk reporting solution, to the Stellar network, Merkle Science is also bringing next-generation security to developers and operators building on Stellar. Extending Merkle Science’s coverage to the Stellar network means that companies on Stellar will be able to offer their developers and users an extra layer of assurance against threats like hacks or scams.
Compass’ frictionless interface and ease of integration will enable companies building on Stellar to assign, manage, interconnect, and track cases easily — improving their operational efficiency. Merkle Science is bringing a new level of security, transparency, and compliance solutions to the Stellar network.
“Merkle Science looks forward to maintaining a long-lasting relationship with SDF and adding value to the Stellar network’s burgeoning growth story. Merkle Science envisions a world powered by blockchain technology and is creating the infrastructure to enable crypto‘s safe and healthy growth,” said Ian Lee, Director of Global Partnerships for Merkle Science. “Our mission aligns perfectly with SDF’s mission of promoting greater financial inclusion. This integration takes us to the next level of addressing forensic and regulatory challenges within the web3 ecosystem.”
“This partnership stands as a milestone and solution in risk mitigation for the Stellar network,” said Denelle Dixon, CEO and Executive Director of Stellar Development Foundation. “Merkle Science’s next-generation platform will make it possible for projects in the Stellar network to leverage crucial emerging solutions. Everyone enjoying the interoperability and speed that comes with building on Stellar may now experience industry-leading compliance tooling to match.”
About Merkle Science
Merkle Science is the next-generation Web3 risk mitigation, compliance, and forensics platform. The firm works with crypto and DeFi businesses, blockchain bridges, NFT players, retailers, financial institutions, insurers, and government agencies around the globe.
Merkle Science’s focus on multi-chain and liquidity pool analysis, real-time transaction monitoring, and predictive and machine learning-driven analytics provides its clients with best-in-class solutions and enables Web3’s safe and healthy growth.
For more information on Merkle Science, please visit http://www.merklescience.com.
About Stellar
Stellar is a decentralized, fast, scalable, and uniquely sustainable network for financial products and services. It is both a cross-currency transaction system and a platform for digital asset issuance, designed to connect the world’s financial infrastructure. Financial institutions worldwide issue assets and settle payments on the Stellar network, which has grown to over 7 million accounts. For more information, visit stellar.org.
About the Stellar Development Foundation
The Stellar Development Foundation (SDF) is a non-profit organization that supports the development and growth of Stellar, an open-source network that connects the world’s financial infrastructure. Founded in 2014, the Foundation helps maintain Stellar’s codebase, supports the technical and business communities building on the network, and serves as a voice to regulators and institutions. The Foundation seeks to create equitable access to the global financial system, using the Stellar network to unlock the world’s economic potential through blockchain technology. For more information, visit stellar.org/foundation.
SOURCE The Stellar Development Foundation
