How CryptoSwift overcomes standard challenges among competing Travel Rule solutions.
| Feature | Standard challenge | CryptoSwift |
| Ease of Integration | Integrating with third party vendors to handle regulated workflows is bound to be messy. Decentralised solutions require a particularly heavy lift. | Integrating with CryptoSwift’s only connecting API end-points, rather than a back-end build. It’s an API first product with great documentation. |
| Maintenance costs | Maintaining on-prem and niche Travel Rule solutions takes time. | CryptoSwift offers a cloud solution with easy and cost-efficient maintance. |
| Data Completeness | Deposits often lack accompanying Travel Rule messages, leading to breaches of data completeness requirement under TFR. | CryptoSwift offers Know Your Wallet (KYW) and automatic incoming message features, helping detect the wallet type (custodial or self-hosted) and identify the custodian VASP based on on-chain data. |
| ISO & DORA Compliance | CASPs need vendors that provide compliance with DORA and cybersecurity requirements. | As a European provider, CryptoSwift complies with DORA out-of-the-box. CrypoSwift has also passed ISO 27001:2022 certification. |
| Rule engine & Orchestration Layer | Stitching together various risk data streams into coherent compliance authorization workflows detracts software engineers from the core product. | The CryptoSwift rule engine provides compliance teams with no-code workflows to configure authorizations across Travel Rule, blockchain analytics and AML screening data streams |
| Cost of Ownership | CASPs need a vendor whose pricing scales with volumes, especially given the nascent state of the stablecoin market. | CryptoSwift combines module and volume based competitive pricing to reflect both functional and volume needs. |
| Data autonomy | Cloud solutions share PII data with a third party vendor, exposing sensitive information. | CryptoSwift Outpost offers a way to maintain PII data in the CASP’s on-prem perimeter until requested for Travel Rule purposes, combining data autonomy with easy data sharing practices. |
| Powerful self-hosted wallet verification | Self-hosted wallet verification adds friction to the users, and the widgets are often hard to implement. | CryptoSwift offers an industry-leading non-custodial wallet verification widget. The design can be fully customised to fit the VASP’s user interface. Periodical renewals support low-risk wallet whitelisting. |