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What is KYT

KYT (Know Your Transaction) is a financial regulatory and compliance practice designed to assist financial institutions and other organizations in identifying, monitoring, and reporting on transactions related to money laundering, terrorist financing, and other illicit activities. By monitoring transaction data in real-time or near real-time, KYT aims to identify abnormal or suspicious transaction behavior to ensure the compliance of the financial system. Custody supports three industry-leading and well-known KYT service providers. Users can freely choose based on their business needs and cost considerations and can also switch providers during operation.

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Activate Compliant Custody KYT Service

Please contact our business team and inform them of the KYT service provider and the method you want to use for activation.

Choose How You Want to Activate the Service

1

Choose the KYT Service Provider

If you intend to activate the KYT service, the service providers that ChainUp Custody can integrate with include:

  • Chainalysis: A globally leading blockchain KYT service that analyzes and ensures the compliance of digital asset transactions for various institutions and government agencies.
  • Elliptic: Focused on providing cryptocurrency compliance and risk management solutions, widely used by global financial and regulatory institutions.
  • Trustformer: Independently developed by ChainUp Group, it provides a leading solution for digital currency compliance monitoring, ensuring the compliance and security of the digital asset ecosystem.
2

Choose How You Want to Activate the Service

Self-Account & Automatic Integration: Users activate KYT services at their own expense, provide the necessary information as required by the system, and complete the automatic integration of both systems.

KYT Service Hosting: Activate the required KYT service through ChainUp Custody, and Custody will assist in activating the KYT account. Users can renew services or switch service providers through Custody at any time.

Please note that under normal circumstances, you only need to choose one method of activating the service and can only specify a unique KYT service provider for verification information. If you have special requirements, you can contact Custody at any time to switch to the desired service provider and method of activating the service.

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