Sumsub, a global full-cycle verification provider, announces its integration with Chainalysis, the blockchain data platform.
This partnership combines Sumsub’s Transaction Monitoring and Travel Rule solutions with Chainalysis’ blockchain analytics platform and services, “enabling regulatory compliance, secured data storage and automated crypto transaction monitoring for client companies.”
Sumsub announces partnership with Chainalysis to “enable regulatory compliance, secured data storage and automated crypto transaction monitoring for client companies.”
Sumsub announces partnership with Chainalysis “to enable regulatory compliance, secured data storage and automated crypto transaction monitoring for client companies.”
Sumsub’s integration with Chainalysis and its Bring Your Own Key (BYOK) management model paves the way “for a new era in digital compliance for crypto businesses, providing unified workflows and automated monitoring of transactions via a secure channel.”
With crypto regulations becoming more stringent and sophisticated, this partnership ensures that clients “stay compliant and keep fraudsters and money launderers at bay.”
Now, crypto exchanges, peer-to-peer marketplaces, and neobanks interacting with crypto for their customers can “set up automated crypto transaction monitoring and advanced analytics for deeper investigations and effective risk management in one unified dashboard.”
With a Chainalysis key management model incorporated into the Sumsub full-cycle verification platform, they can “enhance privacy and take complete control of their data, smoothly streamlining their KYC, AML, and transaction monitoring processes in one move.”
Jacob Sever, co-founder and Chief Innovation Officer at Sumsub, said:
“We are proud to work with Chainalysis, the leading blockchain intelligence provider in the world. This partnership enables us to offer access to over one billion mapped addresses across multiple blockchains to those customers who use Sumsub’s Transaction Monitoring and Chainalysis crypto risk solutions. Sumsub’s solution enhanced capabilities, integrated with Chainalysis’ analytics and key management model, are reshaping the landscape of crypto compliance and security in the digital realm. Through this integration, businesses can align with stringent global AML and KYC regulations, fostering trust and confidence in crypto transactions.”
Ian Andrews, Chief Marketing Officer at Chainalysis said:
“Partnering with Sumsub, a leading identity verification and fraud prevention platform, is another step for us towards bringing greater trust and transparency into the crypto world. By developing an integration between Sumsub’s platform and our crypto risk solution, we’re providing next generation digital infrastructure for security and compliance controls in the crypto industry. Together, we are striving for the cryptocurrency economy to flourish,”
As covered, Chainalysis is the blockchain data platform.
They aim to “provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries.”
Their data powers investigation, compliance, and market intelligence software “that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely.”
As noted in the update, Sumsub is a full-cycle verification platform “that secures the whole user journey.”
With Sumsub’s customizable KYC, KYB, Transaction Monitoring, Fraud Prevention and Travel Rule solutions, you can “orchestrate your verification process, welcome more customers worldwide, meet compliance requirements, reduce costs, and protect your business.”