ChainComply

ChainComply is a financial technology firm established to address the mounting complexities faced by traditional financial institutions when dealing with cryptocurrency transactions. Founded in 2020 by Pavlina Pavlova, Lukasz Lukaszewski, and Nikolay Stanev, the Brussels-based company pivoted from an earlier venture, ChainCo, to focus squarely on Anti-Money Laundering (AML) and compliance solutions. The founding team's background includes prior startup experience, notably the creation of a peer-to-peer lending platform in Eastern Europe, which provided them with a blend of expertise in both traditional finance and the crypto sector.

The company's core offering is a business-to-business Software-as-a-Service (SaaS) tool designed for enhanced due diligence. It primarily serves AML teams within banks, Electronic Money Institutions (EMIs), and Virtual Asset Service Providers (VASPs), as well as wealth managers and crypto tax accountants. The platform functions by aggregating a client's crypto exchange history and on-chain data via APIs to conduct thorough source of funds investigations. This process transforms complex transaction histories into clear, visual reports, flagging high-risk activities and patterns to help institutions meet regulatory obligations, such as those stipulated by MiCA (Markets in Crypto-Assets Regulation). The service is designed to be a non-integrative, cloud-based tool, reducing the burden on a bank's internal IT infrastructure and enabling AML officers to complete a case review in minutes.

ChainComply's business model is based on a monthly subscription to its platform, supplemented by revenue from training and consulting services. By automating and simplifying Know Your Transaction (KYT) processes, the firm enables its clients to confidently serve the growing segment of crypto-holding customers, thereby reducing operational costs, mitigating the risk of regulatory fines, and preventing reputational damage. In September 2022, the company secured an undisclosed amount of seed funding from DIFC to fuel its growth. The team has also established a pipeline of potential clients and signed a letter of intent for a pilot implementation, positioning itself for increased demand anticipated with the enforcement of MiCA.

Keywords: crypto compliance, AML tool, source of funds investigation, KYT, Know Your Transaction, RegTech, financial crime prevention, MiCA regulation, blockchain analytics, digital asset due diligence, VASP compliance, EMI crypto services, on-chain data analysis, transaction monitoring, crypto risk management, financial institution compliance, B2B SaaS, FinTech, Pavlina Pavlova, Lukasz Lukaszewski, Nikolay Stanev