Sumsub announced integration with Chainalysis

Sumsub's Transaction Monitoring solution for crypto is now upgraded with market-leading blockchain analytics provided by Chainalysis.
PRNewswireMarch 13, 20244 min

Sumsub, a global full-cycle verification provider, announces its integration with¬†Chainalysis, the world’s leading blockchain data platform. This partnership combines Sumsub’s¬†Transaction Monitoring¬†and¬†Travel Rule¬†solutions with Chainalysis’ extensive blockchain analytics platform and services, enabling 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.

“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,”¬†comments¬†Jacob Sever, co-founder and Chief Innovation Officer at Sumsub.¬†“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.”

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,” adds¬†Ian Andrews, Chief Marketing Officer at Chainalysis.

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