Sumsub, a worldwide verification supplier, has built-in with Chainalysis, a blockchain information platform. This collaboration goals to reinforce regulatory compliance, safe information storage, and automate crypto transaction monitoring for his or her shoppers.
By incorporating Chainalysis’ key administration mannequin, the mixing facilitates a complete strategy for crypto exchanges, peer-to-peer marketplaces, and neobanks to watch digital asset transactions effectively by a unified dashboard, enabling superior threat administration analytics.
This partnership between Sumsub and Chainalysis responds to the growing digital fraud within the crypto sector. This development is underscored by Sumsub’s reviews, which notice a 128 % enhance in deepfake incidents in 2023, with the Asia-Pacific area experiencing a 1530 % surge.
It additionally addresses the necessity for stringent compliance measures in response to tighter world rules on digital belongings, exemplified by current actions from regulatory our bodies within the Asia-Pacific area, together with the Financial Authority of Singapore and Hong Kong’s new crypto journey rule.
Jacob Sever
“This partnership allows us to supply entry to over one billion mapped addresses throughout a number of blockchains to these clients who use Sumsub’s Transaction Monitoring and Chainalysis crypto threat options,”
stated Jacob Sever, co-founder and Chief Innovation Officer at Sumsub.
Ian Andrews
“By creating an integration between Sumsub’s platform and our crypto threat answer, we’re offering next-generation digital infrastructure for safety and compliance controls within the crypto business. Collectively, we’re striving for the cryptocurrency economic system to flourish,”
added Ian Andrews, Chief Advertising and marketing Officer at Chainalysis.
Featured picture credit score: Edited from Freepik
