ComplyCube, the award-winning RegTech100 company specializing in Identity Verification (IDV) and Anti-Money Laundering (AML) solutions, has partnered with Scorechain, a pioneer in blockchain analytics and AML tools for Virtual Asset Service Providers (VASPs). By partnering with ComplyCube, Scorechain will fortify their operations within the financial space, establishing robust AML crypto practices as a necessary standard within today’s rapidly evolving regulatory landscape.
Complying with Evolving Crypto Regulations
Regions worldwide are implementing necessary frameworks, such as the Markets in Crypto-Assets (MiCA) regulation in Europe, to ensure transparency within the sector and establish a unified standard. The Markets in Crypto-Assets (MiCA) regulation, set to take effect on December 30, 2024, introduces a unified framework for cryptocurrency regulation across the European Union, establishing a global standard for both investor protection and innovation. Under MiCA, crypto businesses will face stricter regulation. Additonally, the Digital Operational Resilience Act (DORA) became law in January, 2025, similarly pushing for robust protocols and enforcing stringent regulation.
The Challenges of Fraud and Financial Crimes
Regulatory changes aren’t the only challenge; cases of identity fraud and other financial crimes have skyrocketed over the past few years. In 2024 alone, crypto scam revenue had hit a significant $9.9 billion, proving that the need for controls regarding Anti-money Laundering (AML) and KYC practices had become undeniable.
Enhancing Trust and Compliance with Advanced IDV and AML Solutions
Scorechain’s vision, focused on enhancing trust and compliance globally, aligns perfectly with ComplyCube’s mission – to build trust at scale. Scorechain will now offer their clients a comprehensive framework through ComplyCube’s state-of-the-art platform. This approach enables businesses to accurately verify user profiles while strictly screening and monitoring blockchain transactions, providing a robust suite of solutions to combat fraud and money laundering.
This collaboration streamlines the compliance process to address the needs of the digital asset ecosystem. Businesses can leverage ComplyCube’s advanced IDV, KYC, and AML solution to efficiently and accurately verify and screen customer identities, ensuring full compliance with KYC and AML regulations.
Fortifying Compliance within the Crypto Space
Following verification, Scorechain’s blockchain analytics solutions offer detailed monitoring of blockchain transactions, including wallet screening and risk scoring, allowing for the detection of suspicious activity and ongoing regulatory compliance. This multi-layered approach enables users to securely onboard customers through ComplyCube’s streamlined process while also benefiting from Scorechain’s detailed analytics for transaction-level insights, resulting in a comprehensive and efficient AML compliance solution for regulated Crypto firms.
Benjamin Zemmour, Head of Sales at Scorechain, emphasized the impact of the collaboration, “The partnership between Scorechain and ComplyCube represents a significant step forward in enhancing the compliance landscape for financial institutions and cryptocurrency businesses. By combining Scorechain’s robust Blockchain Analytics with ComplyCube’s advanced Identity Verification and AML solutions, we’re offering a comprehensive toolkit to address the growing complexities of regulatory compliance.”
Mohamed Alsalehi, CTO at ComplyCube, discussed the shared vision, remarking that “Collaborating with Scorechain reinforces the value of aligning specialized expertise to tackle the nuanced compliance requirements in the cryptocurrency market. Our unified approach delivers robust tools that seamlessly address identity verification and blockchain monitoring.”
This initiative empowers businesses to lead the way to a trust-driven economy. ComplyCube and Scorechain offer practical, scalable solutions that enable organizations to stay ahead of compliance demands without sacrificing growth or agility.
About ComplyCube
ComplyCube is an award-winning global leader in SaaS solutions for Identity Verification (IDV), Anti-Money Laundering (AML), and Know Your Customer (KYC) compliance. The AI-driven platform empowers businesses in banking, financial services, cryptocurrency, wealthtech, lending, fintech, and more to reduce risk, enhance onboarding, and confidently meet regulatory requirements. Certified under the UK DIATF, ComplyCube boasts one of the industry’s strongest compliance postures, enabling its clients to meet the highest regulatory standards.
About Scorechain
Headquartered in Luxembourg, Scorechain is a leading innovator in blockchain analytics and AML solutions, empowering the cryptocurrency industry with cutting-edge compliance tools. Since 2015, Scorechain has supported businesses in navigating the complexities of digital assets through real-time transaction monitoring, wallet screening, and customizable alerts. Trusted by over 350 companies in 45+ countries, Scorechain continues to set the standard for blockchain compliance.
