Defy provides blockchain compliance solutions focused on Anti-Money Laundering (AML) and the FATF Travel Rule for crypto exchanges, wallets, and custodians. Their platform offers real-time VASP verification, secure data sharing, and transaction monitoring across major blockchains. The services enable digital asset businesses to automate regulatory adherence and mitigate financial crime risks through developer-friendly APIs.
Funding
$63.7K 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
Cryptocurrency exchanges, wallets, and custodians face increasing pressure to comply with anti-money laundering (AML) regulations and the Financial Action Task Force (FATF) Travel Rule, requiring them to collect and share KYC information for crypto transactions. Existing AML solutions often lack real-time risk detection and seamless integration with global Virtual Asset Service Provider (VASP) networks, leading to inefficiencies and potential compliance breaches.
Solution
Defy provides a suite of AI-powered compliance solutions designed to help Web3 businesses navigate the complexities of AML, Know Your Transaction (KYT), and Travel Rule regulations. The platform offers real-time risk detection, enabling businesses to identify and mitigate suspicious activities instantly. Defy's Travel Rule solution facilitates secure and compliant data sharing between VASPs, ensuring adherence to global regulatory standards without disrupting operations. The platform's AI Compliance Officer, Vera, automates compliance processes within a company's own data centers, ensuring data privacy and audit readiness.
Target Audience
Defy primarily targets cryptocurrency exchanges, wallets, custodians, and other Virtual Asset Service Providers (VASPs) seeking to comply with AML, KYT, and Travel Rule regulations.
Features
- Real-time AML and KYT monitoring across major blockchains, covering over 30,000 malicious addresses
- AI-powered risk scoring and tagging for blockchain transactions and addresses
- Travel Rule compliance solution automating data collection, VASP verification, and secure information sharing
- Easy-to-use API for integrating AML and blockchain functionalities into existing applications
- Dynamic address pool to enhance the security and privacy of blockchain transactions
- Comprehensive investigation tool for in-depth analysis of suspicious blockchain activities
- Stream API for accessing real-time blockchain data via webhooks with guaranteed delivery