Sumsub taps Chainalysis to perfect Transaction Monitoring and Travel Rule solutions

Rick Steves

“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.”

FX Brokers and Crypto Payments

Sumsub has integrated with Chainalysis, the world’s leading blockchain data platform, in a move that significantly enhances the full-cycle verification provider’s capabilities when it comes to compliance in crypto markets.

Leveraging Chainalysis’ extensive blockchain analytics platform and services, Sumsub’s Transaction Monitoring and Travel Rule solutions ensure regulatory compliance, secured data storage and automated crypto transaction monitoring for client companies.

Compliance for crypto exchanges, p2p markets, and neobanks

Sumsub’s integration with Chainalysis and its Bring Your Own Key (BYOK) management model allows Sumsub to provide unified workflows and automated monitoring of transactions via a secure channel for the benefit of crypto businesses and their digital compliance needs. The partnership ensures that clients stay compliant as crypto regulations become more stringent and sophisticated.

The compliance solution mainly targets crypto exchanges, peer-to-peer marketplaces, and neobanks interacting with crypto for their customers. These firms now 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.

Over one billion mapped addresses across multiple blockchains

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, commented: “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.”

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