CryptoSwift provides an end-to-end solution for Virtual Asset Service Providers (VASPs) to meet global Travel Rule compliance requirements. The service facilitates the secure transmission of required originator and beneficiary data between VASPs using an API-driven approach built on an open-source protocol. This platform ensures adherence to regulations like FATF Recommendation #16 and EU MiCA by simplifying data exchange and transaction monitoring.
Funding
$100K 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
Virtual Asset Service Providers (VASPs) face increasing regulatory pressure to comply with the Travel Rule, which requires the secure exchange of originator and beneficiary information during crypto transactions. Manual data exchange processes are inefficient, insecure, and difficult to scale, leading to compliance risks and operational bottlenecks. The lack of a standardized protocol creates interoperability challenges between VASPs, hindering seamless data transfer across different networks.
Solution
CryptoSwift offers an end-to-end Travel Rule compliance solution that automates the secure transmission of required data between VASPs, ensuring regulatory adherence and streamlining digital asset transfers. The platform leverages an open-source protocol and a REST API for simple integration, enabling businesses to seamlessly exchange compliance information and navigate multi-network messaging. CryptoSwift resolves the "Sunrise" issue by providing a network of identified VASPs and a client dashboard for tracking and monitoring transactions. The solution is designed with simplicity, security, and efficiency in mind, allowing crypto businesses and financial institutions to focus on growth while meeting evolving regulatory requirements.
Target Audience
CryptoSwift primarily targets Virtual Asset Service Providers (VASPs) and financial institutions that need to comply with the Travel Rule and other crypto regulations.
Features
- Fully compliant with FATF Recommendation #16 and EU’s MiCA and the Transfer of Funds Regulation
- Simple integration using the CryptoSwift REST API
- Built on an open-source Travel Rule protocol
- Resolves the “Sunrise” issue with a network of 2000+ identified VASPs
- Client dashboard for tracking and monitoring transactions
- Multi-network messaging capabilities
- Self-hosted wallet verification widget