ITI Funds to build a solution for cryptocurrency transactions compliance for fund managers

ITI Funds and the Bitfury Group have launched 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 analysing 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,” says 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,” says Marina Khaustova, CEO of Crystal Blockchain.


Source: institutional asset manager

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