Sumsub and Chainalysis Join Forces to Enhance Compliance and Monitoring for Crypto Clients

Sumsub, a global leader in identity verification, announced its integration with Chainalysis, a leading blockchain data platform. The collaboration brings together Sumsub's Transaction Monitoring and Travel Rule solutions with Chainalysis' comprehensive blockchain analytics platform and services, allowing client companies to achieve regulatory compliance, secure data storage, and automate monitoring of cryptocurrency transactions.

According to the announcement, crypto exchanges, peer-to-peer marketplaces, and neobanks interacting with crypto for their customers can now establish automated monitoring of crypto transactions and access advanced analytics for deeper investigations and efficient risk management through a single dashboard. By integrating the Chainalysis key management model into the Sumsub full-cycle verification platform, companies can improve privacy and maintain full control over their data, seamlessly streamlinng their KYC, AML, and transaction monitoring processes in one step.

Jacob Sever, co-founder and Chief Innovation Officer at Sumsub, commented: "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, added: "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."

Alongside its pursuit of technological innovation, Sumsub is making strides in expanding its business. In July last year, the company unveiled plans to establish its Asia-Pacific headquarters in Singapore​, aiming to partner with and better serve customers in the region.