Covario strengthens anti-money laundering processes with blockchain analytics from Chainalysis

Covario AG
3 min readMay 3, 2022

Chainalysis’ blockchain data platform and software & services solutions strengthen Covario’s KYT (Know Your Transaction) and AML (Anti-Money Laundering) compliance procedures

Zug and New York — Covario is using Chainalysis, the blockchain data platform, which services over 700 government agencies and crypto and financial businesses, to enhance Covario’s AML compliance functions.

Backed by blockchain data, Chainalysis’ software solutions help examine crypto compliance and forensics in a secure and automated way. Tested and proven by global regulators, these tools have been used to solve some of the world’s most high-profile criminal cases.

Keith Noyes, Covario’s Chief Risk and Compliance Officer, stated: “Chainalysis helps Covario to utilize the transparent power of the blockchain to be able to check on the provenance of every token we transact and to generate alerts for risky transactions and counterparties.”

He added that “For historical reasons, cryptocurrencies are associated with money laundering problems. Global regulators remain concerned about the potential for cryptocurrencies to aid and abet money laundering. Therefore, running an effective anti-money laundering compliance program is crucial to Covario’s business development.”

Chainalysis provides ongoing education and certification courses for Covario’s team members to ensure up to date understanding of potentially illicit transactions. All wallets and transactions in Covario’s ecosystem undergo meticulous KYC/AML monitoring.

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About Chainalysis

Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries. Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. Visit:

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About Covario AG

Covario is an award-winning Swiss-based Crypto Prime Brokerage founded in 2019. Covario’s Prime Brokerage platform is a holistic solution for digital asset trading, algorithmic trading, clearing, financing and custody for institutional clients. Backed by a team of professionals with deep experience and understanding of institutional financial services, Covario’s offering combines asset protection and global reach with operational ease and efficiency. Visit:

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