Date: May 6th 2021
Published on: Press Room
AML, crypto AML, Crypto Compliance, Cryptocurrency, Cryptoregulation, Custodigit, DigitalAssetsCompliance, Know your transaction, Risk assessment, Risk-based approach,
This press release has also been published by Custodigit on May 6, 2021 and is available here.
Luxembourg – Zürich: Custodigit AG (“Custodigit“), the provider of the ‘Institutional Digital Asset Gateway’ platform for digital assets covering the entire value chain, and Scorechain SA (“Scorechain”), the Luxembourg-based digital assets analytics and crypto-monitoring solution provider, announce partnership for integration of AML (Anti-Money Laundering) and KYT (Know Your Transaction) module with Custodigit Platform.
Custodigit platform is a fully integrated, end-to-end solution, which provides all the services necessary to establish an institutional-grade digital asset offering for regulated financial service providers. From trading and lending, clearing and settlement, to custody with sub-custody capability, it enables financial service providers to develop new revenue streams through digital asset market offerings. The solution is in production since 2019, with Sygnum, the world’s first digital asset bank and Custodigit entered in December 2020 into a partnership with the SIX Digital Exchange. Scorechain is the leading digital assets analytics and crypto funds verification solution used by worldwide compliance professionals.
Peter Hofmann, CEO of Custodigit AG: “This strategic partnership plays a vital role for Custodigit and demonstrates that compliance is one of our top priorities. We are addressing the importance of enhanced and detailed due diligence practices within the digital asset space. We would like to provide our clients with more and better tools in order to fulfill their regulatory and compliance duties.”
Pierre Gérard, CEO of Scorechain: ”We are very happy to help our partner Custodigit to meet compliance standards and to provide a safe environment to its clients. In doing so, we believe that our partnership will help more and more players to access the digital asset industry in a compliant way. At Scorechain, we strive to bring more trust into the digital asset industry with our expertise and experience.”
Scorechain is a Risk-AML software provider for cryptocurrencies and digital assets. As a leader in crypto compliance since 2015, the Luxembourgish company serves worldwide customers in 36 different countries with more than 150 licenses established, ranging from cryptocurrency businesses to financial institutions with crypto trading, custody branch, digital assets customers onboarding, audit and law firms and some LEAs.
Scorechain solution supports Bitcoin analytics with Lightning Network, Ethereum analytics with all ERC20 tokens and stablecoins, Litecoin, Bitcoin Cash, Dash, XRP Ledger and Tezos. The software can de-anonymize the Blockchain data and connect with sanction lists to provide a risk scoring on digital assets transactions, addresses and entities. The risk assessment methodology applied by Scorechain has been verified and can be fully customizable to fit all jurisdictions. 300+ risk-AML scenarios are provided to its customers with a wide range of risk indicators so businesses under the scope of the crypto regulation can report suspicious activity to authorities with enhanced due diligence.
CUSTODIGIT AG is a Swiss-based company backed by key market players such as SIX Digital Exchange, Swisscom and Sygnum. Custodigit is the fastest, most secure way for financial service providers to create a digital asset market offerings. The solution is fully customisable and seamlessly integrated with core banking systems. Core pillars of our solution: