The blockchain technology security and analytics provider, CipherTracereleases a new tool ‘Armada’ for banks that are involved in cryptocurrencies. As per the announcement, “CipherTrace Armada” is a tool that monitors transactions and marks the payment to high-risk VirtualAssets Services Providers (VASP). There are many tools fromCipherTrace, and its competitors but Armada is different from them as it focuses on off-chain data instead of on-chain and can also work along with the existing bank monitoring tools.