Circle releases new blockchain-based toolkit

Circle Internet Financial has announced the launch of the Compliance Engine platform, which offers tools to help companies build on-chain solutions while complying with strict regulatory requirements.

Ensuring compliance

The platform provides tools for transaction verification and monitoring to detect suspicious activities. Additionally, Compliance Engine includes a service that adheres to Know Your Customer (KYC) principles, which is a crucial element for any financial institution.

Web3 enhancements

Compliance Engine complements Circle's existing products, such as a programmable wallet and a smart contract platform. These tools are an integral part of the company's core product, USDC.

Support for various blockchain networks

Initially, the platform will support blockchain networks such as Avalanche, Ethereum, Polygon PoS, and Solana. This expands the product's usability for various projects in the Web3 ecosystem.

The launch of Compliance Engine is another attempt by Circle to increase the adoption of USDC. The company aims to strengthen the position of its assets and attract more companies to use its blockchain-based products.