引入前哨：鏈分析的“生態系統監控解決方案”

自2014年以來，Chainalysis一直在開發該行業領先的區塊鏈情報數據集，並獲得了與代幣發行人和政策制定者一起工作的豐富經驗。

Since 2014, Chainalysis has been developing the industry’s leading blockchain intelligence dataset, and has gained deep experience working with token issuers and policymakers alike.

自2014年以來，Chainalysis一直在開發該行業領先的區塊鏈情報數據集，並獲得了與代幣發行人和政策制定者一起工作的豐富經驗。

We’ve long believed that blockchains will become the primary mechanism for exchange of value, from tokenized securities to tokenized investments products to stablecoins, and more. To further instill trust and safety to cryptocurrency markets, it’s time to serve token issuers. These organizations need a way to assess risk for immediate primary issuance and redemptions, as well as reliable methods for understanding how their tokens are used across blockchain ecosystems, referred to as secondary markets.

我們長期以來一直認為，區塊鏈將成為交換價值的主要機制，從令牌化證券到令牌化投資產品到穩定的投資產品等等。為了進一步向加密貨幣市場灌輸信任和安全，是時候為代幣發行人提供服務了。這些組織需要一種方法來評估立即發行和贖回的風險，以及可靠的方法，以了解如何在區塊鏈生態系統中使用其令牌，稱為二級市場。

Today, we’re pleased to announce Sentinel, our ecosystem monitoring solution for token issuers. In this blog, we’ll discuss why the time is right for this offering, and share a sneak peek into Sentinel’s features.

今天，我們很高興宣布Sentinel，這是我們為令牌發行人的生態系統監控解決方案。在此博客中，我們將討論為什麼要進行此產品的時間是正確的，並分享偷看Sentinel的功能。

Ecosystem monitoring is necessary to safely grow stablecoin adoption

生態系統監測是必須安全地採用穩定的生態系統監測

Over 80% of all crypto transactions involve stablecoins. But stablecoins are not only relevant to crypto markets, they’re an important bridge to traditional financial markets, too. Tether, the issuer of USDT, and Circle, the issuer of USDC, are notable U.S. Treasury holders. Tether was the seventh largest acquirer of U.S. Treasuries across countries in 2024. As of December 2024, it had over $113B in direct and indirect holdings of U.S. Treasuries, more than some G20 countries, like Germany.

超過80％的所有加密交易涉及穩定的交易。但是，穩定的不僅與加密貨幣市場有關，而且是通往傳統金融市場的重要橋樑。 USDT的發行人Tether和USDC的發行人Circle是美國著名的財政持有人。特特（Tether）是2024年在各個國家的美國國債的第七大收購方。截至2024年12月，它的直接和間接持有量超過了113B美元以上的美國國債，比德國等一些G20國家多。

Stripe, a leading payment processor, recently acquired Bridge, a platform that allows businesses to easily receive, store, convert, issue, and spend stablecoins. Zach Abrams, co-founder of Bridge, acknowledged on X, “We closed our acquisition with Stripe! Together, we’re scaling digital dollars to businesses everywhere. Stablecoins aren’t the future—they’re already transforming how people move money today.”

Stripe是一家領先的付款處理器，最近收購的Bridge，該平台使企業可以輕鬆接收，存儲，轉換，發行和花費StableCoins。布里奇（Bridge）的聯合創始人扎克·艾布拉姆斯（Zach Abrams）在X上承認：“我們以條紋結束了收購！一起，我們將數字美元擴展到各地的企業。穩定的錢不是未來 - 他們已經在改變了今天的人們如何賺錢。”

Policy momentum around stablecoins is increasing. “It’s evident that governments are recognizing both the benefits and risks from growing stablecoin usage, and this is motivating them to push forward on regulation,” Chengyi Ong, Chainalysis Head of Policy for APAC. Jurisdictions like Japan, the UAE, and the EU have all implemented stablecoin legislation, while others like Hong Kong and Singapore are also in advanced stages.

Stablecoins周圍的政策動力正在增加。 “很明顯，政府正在認識到不斷增長的穩定使用的利益和風險，這促使他們推動監管前進，” APAC政策政策負責人Chengyi Ong。日本，阿聯酋和歐盟等司法管轄區都實施了穩定的立法，而香港和新加坡等其他人也處於高級階段。

Authorizations are being granted under these frameworks, including Circle, which has been authorized under the EU’s Markets in Crypto Assets (MiCA) regulation to issue USDC and EURC, and in July 2024, Paxos gained approval from the Monetary Authority of Singapore to issue stablecoins in partnership with DBS Bank.

包括這些框架，包括Circle在內的授權，該框架已在歐盟市場授權的Crypto資產（MICA）法規中授權發布USDC和EURC，並於2024年7月獲得了Paxos的批准，獲得了新加坡貨幣權限的批准，以與DBS Bank合作發行Stablecoins。

The U.S. government has also said it would like to see stablecoin legislation circulating by August of this year.

美國政府還表示，希望在今年8月之前看到Stablecoin立法。

Chainalysis research from the 2025 Crypto Crime Report shows that stablecoins now make up the majority of all illicit transaction volume, accounting for 63% of all illicit transactions. “This new reality is part of a broader ecosystem trend in which stablecoins also occupy a sizable percentage of all crypto activity, demonstrated by total growth YoY in stablecoin activity around 77%,” according to the report.

2025年加密犯罪報告的鏈分析研究表明，穩定幣現在佔所有非法交易量的大多數，佔所有非法交易的63％。該報告稱：“這種新現實是更廣泛的生態系統趨勢的一部分，在該趨勢中，穩定菌也佔據了所有加密活動的相當一部分，這證明了Stablecoin活性的總增長約為77％。”

Both regulators and issuers are not powerless against the illicit use of stablecoins. Leading issuers such as Tether have been taking active measures to combat on-chain crime. Te

監管機構和發行人都不適合非法使用穩定的人。領先的發行人（例如Tether）一直在採取積極措施來打擊鏈上犯罪。 TE