Blockchain analytics firm Elliptic has unveiled a new tool designed to monitor the movement of stablecoins like USDT and USDC across diverse blockchain networks. This feature aims to support financial institutions and stablecoin issuers in performing comprehensive wallet audits and asset tracking activities. Several prominent banks have already integrated this tool, offering it to all stablecoin issuers. ðŸ§
Elliptic reveals that USDT enjoys the largest market share on both Tron and Ethereum blockchains. Criminals frequently employ stablecoins as a means to manage currency risks. Most stablecoin issuers possess the capability to freeze or blacklist addresses. Notably, last year, Tron, Tether, and TRM Labs collectively froze over $250 million in assets linked to criminal activities.