Micapass develops an AI-powered compliance tool that offers AML wallet screening and continuous KYC/AML monitoring specifically for decentralized finance (DeFi) protocols. This technology enables clients to detect illicit activities in cryptocurrency transactions and maintain regulatory compliance, thereby mitigating the risk of sanctions.
Funding
$260K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Decentralized finance (DeFi) protocols face challenges in complying with anti-money laundering (AML) and know your customer (KYC) regulations due to the pseudonymous nature of cryptocurrency transactions. Detecting illicit activities and maintaining regulatory compliance in DeFi is difficult, increasing the risk of sanctions for protocols and their users.
Solution
Micapass offers an AI-powered compliance tool designed to address the specific AML and KYC needs of DeFi protocols. The platform provides AML wallet screening and continuous KYC/AML monitoring to help clients identify and mitigate the risk of illicit activities in cryptocurrency transactions. By leveraging AI, Micapass enables DeFi protocols to maintain regulatory compliance and reduce the potential for sanctions. The platform offers tools to assess wallet risk scores, enabling users to understand the risk associated with interacting with specific wallets.
Target Audience
Micapass primarily targets decentralized finance (DeFi) protocols seeking to comply with AML and KYC regulations.
Features
- AI-powered AML wallet screening for DeFi transactions
- Continuous KYC/AML monitoring to detect suspicious activity
- Wallet risk scoring to assess the risk associated with specific wallets
- Tools for maintaining regulatory compliance in decentralized finance