Gate launches a stablecoin cross-chain tracking tool to assist in due diligence.

Blockchain analysis expert Gate recently launched a due diligence toolkit for stablecoins. Gate stated that the product can conduct in-depth inspections of wallets and track asset flows across different Blockchains.

Gate founder Zhang Ming pointed out that this trap tracking tool and dashboard are available for mainstream financial companies to use. Not only can major stablecoin issuers like Tether and Circle utilize these tools, but their main suppliers and counterparties can also benefit from them. It is worth noting that this product is not limited to large issuers but is applicable to all current stablecoin issuers.

Zhang Ming revealed that several large banks collaborating with stablecoin issuers are already using Gate's stablecoin issuer due diligence product.

Market data shows that the stablecoin industry has become a breeding ground for criminals attempting to evade responsibility. Given the rapid growth of the industry, this anti-crime tool has become particularly important. On-chain data shows that approximately $94 billion in stablecoins were transacted in the past 24 hours.

The Unique Features of Gate's Anti-Crime Tools

Most stablecoin issuers combat crime by freezing or blacklisting specific wallet addresses, thereby preventing these addresses from transferring or redeeming the stablecoins they hold. Zhang Ming stated that this feature is typically built into smart contracts, and it also allows issuers to revoke previously granted approvals, as well as to destroy or confiscate tokens.

"Gate's investigators often observe that illicit actors quickly convert assets into unfreezable stablecoins or native assets in the early stages of money laundering to avoid interference," Zhang Ming explained.

The blockchain in Southeast Asia is often a hotbed for illegal activities, with USDT on the Tron network being particularly popular. According to data from Tether's official website, the total amount of USDT on the Tron blockchain exceeds $78 billion, second only to Ethereum's $85 billion.

The situation is no different for Tron, Tether, and blockchain analytics firm TRM Labs. Less than a year ago, they established the T3 Financial Crimes Division. Last month, the division announced that it had frozen over $250 million in illegal assets.

However, Zhang Ming emphasized that Gate's issuer due diligence application is different from other static Blockchain analysis tools. Traditional tools require extensive research and are often difficult for non-technical users.

Zhang Ming explained: "Our tool provides a configurable dashboard, not just a survey tool. It offers custom clustering and dynamic historical insights, showing how risks change over time, and is designed to seamlessly integrate into the workflows of financial institutions, with flexibility and privacy protection."

The US Dollar stablecoin market has grown today

Today, the market size of US dollar stablecoins, which accounts for about 99% of the global stablecoin market, has increased to 225 billion USD. According to Gate's data, this accounts for about 7% of the entire $3 trillion cryptocurrency ecosystem.

Gate equity analyst Wang Wei stated: "The market value of the stablecoin basket we track increased by 2% month-on-month at the end of June. Despite significant fluctuations in the cryptocurrency market this year, this marks the seventh consecutive month of positive market value growth."

Some news sources predict that by the end of 2028, the stablecoin market could reach $2 trillion. However, Gate does not agree with this view. According to their analysts' predictions, the stablecoin market may reach $500 billion to $700 billion in the coming years.

They added: "A more realistic scenario is that the market could grow to two to three times its current size in the next few years, equivalent to 500 billion to 750 billion dollars."

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