- TRM Labs’ integration with Sonic improves transaction monitoring and risk management for institutional digital asset security.
- Band Protocol’s push-based oracles improve real-time data reliability for Sonic Labs’ DeFi and AMM applications.
A major first toward improving asset security for institutional investors in the digital asset market is TRM Labs’ recent integration with Sonic. TRM Labs is known for their knowledge of blockchain intelligence solutions and is a key player in preventing financial crimes and fraud.
Sonic uses the features of TRM to provide advanced compliance and risk management tools through this integration. This ensures that transactions are closely monitored for questionable behavior, better protecting institutional assets.
The influx of institutional money into #Sonic requires complete asset security
@TRMLabs helps prevent digital asset fraud and financial crime on Sonic with its industry-leading blockchain intelligence platform. pic.twitter.com/wiI2Mi5TxI
— Sonic Labs (previous Fantom)
(@0xSonicLabs) October 16, 2024
Enhanced compliance tools ensure security for institutional investors
Institutions that have work Sonic gain access to advanced fraud detection, real-time risk assessment and advanced transaction monitoring through this alliance. These tools not only help to simplify business operations, but also to meet strict regulatory criteria, including Know Your Transaction (KYT) requirements and Anti-Money Laundering (AML) regulations.
Particularly critical as scrutiny of the digital asset industry continues to increase is the ability to more effectively address these compliance requirements.
This collaboration fits within a larger plan to create a more compliant and secure environment for handling digital assets. Strong security measures become even more important as more institutional money finds outlets like Sonic.
By incorporating TRM Labs’ technologies, Sonic offers institutional investors a safer choice, with the assurance that their funds are continuously protected from potential risks.
Band Protocol’s oracles improve data reliability in the Sonic ecosystem
On the other hand, CNF sooner noted that Band Protocol has incorporated push-based oracles into Sonic Labs, improving the reliability of real-time data for decentralized apps (dApps), including DeFi and Automated Market Makers (AMMs).
While pull-based oracles are best for situations where intermittent data is needed, such as prediction markets and gaming dApps, push-based oracles are particularly well suited for continuous data updates.
This adaptability in Oracle forms ensures that various dApp requirements are met efficiently, providing a customized approach to data management within the Sonic ecosystem.
Our previous reports have done that too marked the benefits of The Sonic Gateway, which provides reliable, secure Ethereum-Sonic transactions. This feature eliminates custody risks, allowing consumers to maintain full control over their assets during the transfer process.
Such developments help increase user confidence and underline Sonic’s commitment to providing a flawless and secure experience for transferring digital assets.
Meanwhile, Sonic’s native token, FTM, which is expected to switch to a new ticker “S”, is trading around $0.7357 at the time of writing, up 6.72% during the past week.
