Crystal invites universities to use the analysis tool

Netherlands-based Crystal Blockchain has made its compliance and investigation tool, Crystal Expert, available to universities worldwide.

The company has invited universities to apply for a free license to use the tool in an effort to build relationships with these institutions and help enrich research projects with fresh blockchain intelligence while contributing to broader topics in blockchain and cryptocurrency research.

Crystal Expert is an all-in-one blockchain analytics tool used by financial institutions, virtual asset service providers and regulatory agencies worldwide. Compliance teams can use the system to monitor crypto transactions and ensure they meet global anti-money laundering regulatory requirements.

The system is also used by investigators to root out bad actors and track the flow of illegal crypto transactions. Crystal Expert offers visualizations of crypto transactions and customer networks, as well as up-to-date data and transaction monitoring for thousands of cryptocurrencies in real time.

In the company’s press release, Crystal Blockchain officials highlighted the rapid adoption of digital assets and blockchain technologies and acknowledged the role of universities in pioneering research studies and promoting innovation in the crypto space. They also mentioned that they have already worked with several universities to date that used Crystal Expert and engaged with the team of experts to advance their research programs and teach new concepts.

For example, the publication of a research paper titled ‘A Tale of Two Markets: Investigating the Ransomware Payments Economy’ was possible due to such a partnership. The paper’s authors worked with Crystal to track the destination of outgoing transactions and study the money laundering strategies of ransomware groups, as well as the time needed to launder the money.

More information about Crystal Blockchain

Earlier in 2023, Crystal launched its own training program for professionals interested in improving their cryptocurrency-related skills and knowledge. Crystal’s courses are delivered by their in-house experts in blockchain regulation, investigations and intelligence, and are designed specifically for businesses adopting cryptocurrencies or exploring the sector. The training sessions are carried out online or in person.

In October 2022, Crystal launched a “watchlist” functionality that sends alerts and identifies risks with VASPS for FIs. At the time, the Crystal team introduced this new functionality as part of a beta phase that allowed VASP checks. The new feature enabled users (typically financial institutions) to add VASP devices for detailed activity monitoring to identify risks. The new tool included a watchlist, two compliance risk alerts, activity monitoring alerts and statistics. A watchlist is a set of devices selected by the user, for each of which constant checks are performed against the rules specified by the user in Alert Settings.