ITI Funds to Build a Solution for Cryptocurrency Transactions Compliance for Fund Managers

The solution will use Bitfury’s industry-leading Crystal Blockchain analytics platform.

ITI Funds and the Bitfury Group have announced a partnership to build a framework for cryptocurrency transactions compliance under the respective KYC and AML policies applicable to funds and investment management companies. The solution, built with Bitfury’s Crystal analytics platform, will be used by a number of fund managers, administrators and risk managers working under ITI Funds’ infrastructure platform.

The Crystal platform is a tool for real-time analysis of transactions on public blockchains (Bitcoin, Ethereum, Bitcoin Cash). It allows users to trace the fund source for specified wallets and assess any potential connections to illegal activities and/or darknet counterparties.

“We strongly believe this partnership can vastly ease the process of analyzing the compliance level of new investors, as well as improve our oversight of transactions with trading counterparties on our platform. Furthermore, it will reduce the risk for fund managers who are wary of holding ‘toxic’ or crime-related crypto assets,” said Gleb Yakovlev, CEO of ITI Funds.

The Crystal platform will be deployed as a tailor-made solution for investment professionals in a number of jurisdictions through ITI Funds’ infrastructure, including Luxembourg and the Cayman Islands.

“I believe that for all its participants, blockchains should be a safe place to conduct business, and the tools for risk management should be accessible. Crystal blockchain analytics is designed to achieve both of these goals,” said Marina Khaustova, CEO of Crystal Blockchain.

The institutionalization of the market is one of the biggest trends in the sector. For example, Morgan Stanley reports that the crypto market has passed the speculative stage and the future lies within institutionalization. Following this, Circle (a Goldman Sachs’ backed crypto exchange), stated that the inflow of institutional money into the crypto world is one of the main trends for 2019 – with compliance becoming increasingly important.


About ITI Funds

ITI Funds is a fund platform combining the interests of investors and portfolio managers. It provides portfolio managers with the infrastructure to establish funds quickly and reduce operating costs, and offers a range of products to private and institutional investors. More than 10 funds currently run on the ITI Funds platform, including traditional ETFs, private-equity funds, a distressed-assets fund, and a cryptocurrency index fund.

ITI Funds’ crypto platform was launched in early 2019, and its AUM now exceeds US$80 million. It offers investors access to several product types, including Europe’s first cryptocurrency index fund with professional custody and insurance. The fund was established in accordance with Luxembourg law, and tracks the ITI Funds Crypto Index, which comprises nine coins (with possible extension to 30). Its YTD actual return is over 90%.

ITI Funds’ shareholders include private equity funds under the management of Da Vinci Capital and Mantra Investment Partners.

About Crystal Blockchain

The Crystal™ platform is the all-in-one blockchain analytics tool. Designed for law enforcement and financial institutions, Crystal provides a comprehensive view of the public blockchain ecosystem and uses advanced analytics and data scraping to map suspicious transactions and related entities. Whether it is tracking a bitcoin transaction to a real-world entity, determining relationships between known criminal actors, or surveying suspicious online behavior, Crystal can help move your investigation forward. To learn more, visit Crystal is engineered by the Bitfury Group.