India-based crypto exchange heavyweight and wallet manufacturer Zebpay has reportedly selected blockchain forensics company Chainalysis to supervise conducted transactions locally. 

Specifically, Chanalysis has reportedly been commissioned to supervised India-based transactions happening on Zebpay platform. This reportedly is the next initiative in the previous forged alliance between the firms, where Chainalysis offering Know Your Transaction (KYT) services to Zebpay Singapore branch. 

“We wanted to build a best-in-class compliance program in India from the start” ZebPay president, Avinash Shekhar, reportedly remarked regarding the development. 

Chainalysis will reportedly establish alerts in a real-time manner if any transactions posing a high level of risk or suspicion took place across the platform. 

ZebPay’s move to extend its compliance framework for the India-based platform has taken place 3 months, following the ruling to dismiss the ban from the Reserve Bank of India, on financial entities offering banking features to businesses dealing with crypto. 

Jason Bonds – chief revenue officer at Chainalysis – reportedly applauded ZebPay for its initiative to reinforce its compliance and investigative abilities in India. 

“We believe India is poised to make advancements for the cryptocurrency industry, and look forward to growing our business there. We are excited to partner with ZebPay during such a historic time.”