Cross River Partners with Chainalysis for Crypto Compliance

Blockchain data platform, Chainalysis has recently announced a partnership with Cross River, a financial services firm that provides core infrastructure and embedded financial solutions. Cross River will take advantage of compliance tools of Chainalysis for the expansion of its cryptocurrency services.

Chainalysis highlighted the recent growth in the global digital asset ecosystem. According to the company, the demand for crypto compliance and due diligence tools has jumped substantially in the past few years. Cross River provides services to companies working in the financial technology and crypto sector. Through the use of Chainalysis technology, the company aims to offer efficient due diligence to its customers.

“Crypto is going to be part of our daily lives, and it’s our responsibility to help the world of financial services stay current with the new technologies,” said Luca Cosentino, the Head of Digital Assets at Cross River. “Cross River is simplifying crypto and making it accessible to all. Our partnership with Chainalysis demonstrates our commitment to innovation while prioritizing compliance and maintaining consumer trust.”

Services

Cross River will leverage a broad range of services from Chainalysis, including Chainalysis KYT (Know Your Transaction), the real-time transaction monitoring solution for compliance professionals; Chainalysis Reactor, the company’s investigations software, and Chainalysis Kryptos, the risk management software for financial institutions.

The tools from Chainalysis help companies in the detection and prevention of suspicious activities in the crypto sector. To facilitate its growth, the company raised $100 million in its Series E funding round and touched the valuation of $4.2 billion.

“Our business was founded on the belief that financial institutions would be integral to the overall growth of the cryptocurrency industry. Cross River has created a new standard for banking services and compliance strategies for those hoping to enable cryptocurrency companies,” said Jonathan Levin, the Co-Founder, and Chief Strategy Officer at Chainalysis.