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Elliptic has launched a tool for tracking stablecoin flows across multiple Blockchains.
The blockchain analytics company Elliptic has launched a new tool designed to track the movement of stablecoins such as USDT and USDC across different blockchains. This tool aims to assist large financial institutions and stablecoin issuers in wallet audits and asset tracking. Several major banks have adopted this tool, which is applicable to all stablecoin issuers. Elliptic reports that USDT has the highest circulating supply on the TRON (Tron) and Ethereum (Ethereum) blockchains. The company notes that criminals often use stablecoins to circumvent currency risks. Most stablecoin issuers have the authority to freeze or blacklist addresses. Last year, TRON (Tron), Tether, and TRM Labs froze over $250 million in assets related to criminal activity.