Venrai Integrates With Chainlink To Launch A Chainlink Node

A digital asset compliance and security audit solutions company, Venrai announced integration with Chainlink a decentralized oracle network consisting of purchasers and providers of data.

Verai team is thrilled  to announce the launch of an official Chainlink node that will make key Office of Foreign Assets Control (OFAC) compliance data accessible to DeFi platforms operating on leading blockchain networks. By bringing regulatory compliance data on-chain through the Venrai Chainlink node, smart contract verticals across DeFi will have access to critical information needed to operate in compliance with OFAC sanctions requirements. When accessing Venrai’s API, DeFi projects can avoid facilitating trans actions involving OFAC-sanctioned digital asset addresses. Projects can reduce their own regulatory risk as well as combat illicit activity in the DeFi space.

Venrai is a digital asset compliance and security audit solutions company that offers all-encompassing support to blockchain-based projects. The firm has deep knowledge of UK, EU and US regulations, delivering client-focused solutions to achieve regulatory compliance within the digital asset space. Venrai’s service offering ranges from advice on company formation, client onboarding and investor due diligence, to AML/CTF regulatory compliance and smart contract auditing.

“The opportunity for DeFi projects to widen adoption through compliance services has never been greater. We are providing an innovative plug-and-play solution to meet regulatory requirements. We are excited to continue our support of the digital asset industry by bringing curated compliance data on-chain through Chainlink, and we look forward to expanding our support for DeFi protocols, and to encourage increased institutional adoption of DeFi.”—Jason Tucker-Feltham, Founder and CEO of Venrai

Venrai recognized the importance of an oracle solution for connecting off-chain APIs like Venrai’s to blockchains such as Ethereum; blockchains cannot natively call external APIs, a limitation commonly known as the blockchain oracle problem. After considering multiple oracle solutions, Venrai ultimately chose Chainlink. The Venrai Chainlink node will be launch in October 2021

ABOUT Venrai
Venrai is a leading digital asset compliance and security auditing firm that provides guidance to companies navigating an increasingly complex global regulatory landscape. Venrai is dedicated to improving the security and regulatory compliance of digital asset solutions. By combating illicit actors, our solutions contribute to the ever-improving perception of digital assets and blockchain technologies.

ABOUT Chainlink
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralised Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralised community, Chainlink currently secures billions of dollars in value for smart contracts across decentralised finance (DeFi), insurance, gaming, and other major industries.

RESOURCES
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