Scorechain, the European leader in crypto transaction monitoring software, and Synaps, the market leader in innovative KYC solution, announced a partnership today to provide a 360° crypto compliance solution to help crypto companies and financial institutions to fulfil worldwide regulatory requirements.
The integration of two powerful tools technically simplifies the compliance workflow and brings to users a cost-saving and time-saving seamless solution. The Scorechain KYT and the Synaps KYC integration combination provides a full crypto compliance solution to meet the market’s needs.
Trusted by 100+ businesses all over the world, Scorechain has served both cryptocurrency companies and traditional financial institutions since 2015. Scorechain Know-Your-Transaction (KYT) solution is highly appreciated by its loyal customers for its impressive data naming coverage, its comprehensive and transparent risk assessment methodology, and fully-customizable scoring system.
Headquartered in Lyon in France since 2018, Synaps provides universal, secure and reusable Know-Your-Customer (KYC) service, which allows the users to create and manage their digital identity online. Its users can share their secure identity among Synaps trusted network of partners to access features that require identity verification. Synaps customers from banking, insurance, gambling, cryptocurrency, and many more industries make a powerful network for Synaps and its users.
Quote from Synaps:
Pierre Gérard, CEO of Scorechain, remarked: “Our partnership with Synpas came naturally since we need to follow the market’s growth and the evolution of the regulation. More and more businesses are looking for complete solutions to fulfill compliance requirements. At Scorechain, we always strive to help these companies with our best solution and to bring more trust in the cryptocurrency ecosystem.”
The cooperation between Scorechain and Synaps helps all crypto-related companies to realize AML efforts by employing KYT and KYC processes to verify the counterparties and to monitor transactions.
About Scorechain
Scorechain is a Risk-AML software provider for cryptocurrencies and digital assets. As a European leader in crypto compliance since 2015, the Luxembourgish company serves worldwide customers in 29 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 is able to de-anonymize the Blockchain data and connect with sanction lists in order 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.
About Synaps
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