SCRYPT partners with Chainalysis to boost blockchain data and analysis security

Author: 
Clément Richard
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SCRYPT is excited to announce its partnership with the leading blockchain data platform, Chainalysis. SCRYPT can now bolster its compliance and risk management strategies for its OTC trading platform – tailored to global institutional clients in digital asset trading. Chainalysis will provide SCRYPT with Chainalysis KYT (Know Your Transaction).

Zurich, 2 November 2021 - Chainalysis, which serves organizations in over 60 countries, will allow SCRYPT to continue pioneering the adoption of digital assets, a synergy between data and digital asset trading.

Chainalysis's data platform exposes relationships between digital asset transactions and real-world entities, enabling investigators to trace the flow of illicit funds.

SCRYPT is a digital asset trading platform that offers an institutional ecosystem for best execution, zero-fee, post-trade settlement, and advanced order types in 800+ pairs. SCRYPT will use Chainalysis’s data solutions as an added layer to its compliance program.

A High Value Partnership for Institutional Clients

KNOW YOUR TRANSACTION (KYT) | Chainalysis will support Scrypt in providing its real-time on-chain monitoring solution, Chainalysis KYT (Know Your Transaction).

Chainalysis KYT helps financial institutions and digital asset businesses monitor large volumes of blockchain activity, identifying high-risk transactions on a continuous basis.

This allows companies to manage investigations and file suspicious activity reports (SARs).

ENHANCED SECURITY | This partnership will bolster the security of SCRYPT's platform, leveraging Chainalysis’s industry-leading compliance and risk management software designed to monitor and investigate cybercriminal activity on blockchains.

REAL-TIME ALERTS FOR SCRYPT COMPLIANCE | Real-time alerts allow compliance teams to prioritize the most urgent issues and will enable SCRYPT to fulfill its regulatory obligations. For institutions interacting with digital assets, this is a must.

Compliant OTC Trading

Onboarding Chainalylsis’s data solution provides insight and risk management for its institutional clients interacting with digital assets. This partnership allows Scrypt to adapt to the changing regulatory landscape and manage the risk of high-profile cybercriminal cases or funds connected to illicit activity.

“SCRYPT's offerings are evolving how financial institutions interact with digital assets and demonstrating that Chainalysis solutions are flexible and work with a variety of business models in the digital asset space. We are continually looking for businesses who are shifting the industry’s paradigm, and SCRYPT absolutely checks that box.” said Jordan Bregman, Business Development Manager for Chainalysis
“We see our recent partnership with Chainalysis as an important milestone for SCRYPT to become a leading provider of digital asset trading and investments to institutions. This adds a critical layer of security for our clients.” said Norman Wooding, Founder and CEO of SCRYPT

About Chainalysis

Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and digital asset companies in over 60 countries. Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world's most high-profile criminal cases and grow consumer access to digital assets safely. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.

www.chainalysis.com

About Scrypt

SCRYPT provides institutional-grade trading and investment solutions in the digital asset spacewithin one secure ecosystem.  SCRYPT Trading is our digital asset trading platform. We offer investment firms, brokers, banks and family offices access to deep liquidity for best-in-class execution, including zero fees, post-trade settlement, advanced order types. Established and founded in Zug Switzerland since 2018, our team consists of quantitative traders, digital asset experts and capital market professionals who have developed their talents at some of the world’s largest and best-known global financial institutions.

www.scrypt.swiss