Elliptic Launches Tool for Tracking Stablecoin Movement Across Multiple Blockchains

According to PANews, blockchain analytics firm Elliptic has introduced a new tool designed to track the movement of stablecoins like USDT and USDC across various blockchains. This tool aims to assist major financial institutions and stablecoin issuers in conducting wallet audits and asset tracking. Several large banks have already adopted the tool, which is applicable to all stablecoin issuers. Elliptic reports that USDT has the highest circulation on the Tron and Ethereum blockchains. The firm notes that criminals often use stablecoins to mitigate currency risks. Most stablecoin issuers have the capability to freeze or blacklist addresses. Last year, Tron, Tether, and TRM Labs collectively froze over $250 million in assets linked to criminal activities.