Predictive Web3 risk & intelligence platform Merkle Science has secured a strategic partnership with Stellar Development Foundation (SDF) to bring its industry-leading compliance product, Compass, to the Stellar network, according to a press release on November 16, 2022.
Merkle Science will collaborate with Stellar Development Foundation (SDF), the non-profit that supports the growth and development of the Stellar network, a decentralized blockchain network, to promote Web3 risk mitigation and compliance.
Thanks to this partnership, Merkle Science will integrate its compliance product known as “Compass” with the Stellar network to bring much-needed compliance and security to developers in the Stellar ecosystem.
Ian Lee, Director of Global Partnerships for Merkle Science, spoke on the partnership and expressed his delight in strengthening a “long-lasting relationship with SDF.”
The introduction of Compass to the Stellar network will bring next-gen security to developers and builders on the network. In addition, the behavior-based transaction monitoring and risk reporting solution will provide protection for startups in the ecosystem against hacks and scams that have become rampant in recent times.
The solution is built to be frictionless and will allow companies in the Stellar ecosystem to manage and track cases seamlessly.
Meanwhile, Stellar tetwork recently secured another partnership with one of the world’s leading payment platforms, Wirex. Thanks to the partnership, Wirex launched the USDC token on the Stellar Blockchain via its app.
At the time of writing this report, Stellar network’s native token, XLM, is trading at $0.08932 with a 24-hour trading volume of $68,765,957, according to CoinMarketCap.