CryptoSwift Secures €510K To Help Crypto Firms Meet EU Travel Rule And MiCA Compliance

With the Markets in Crypto-Assets (MiCA) regulation and updated FATF guidance taking effect across the EU by the end of 2024—and a full transition deadline in 2025—crypto firms face mounting pressure to comply with the Travel Rule.

This rule requires platforms to collect and share sender and recipient identity data for crypto transactions, similar to how SWIFT works in traditional finance. However, most of the crypto industry remains underprepared for this change.

Indrek Ulst, founder of CryptoSwift, shared: There is currently no precise data available detailing the exact number of Crypto-Asset Service Providers (CASPs) in the European Union that are fully compliant with the Travel Rule. However, based on available market research and industry insights, it is estimated that at least two-thirds of CASPs have yet to achieve full compliance.

CryptoSwift provides a plug-and-play compliance solution that requires minimal integration—making it one of the easiest options on the market for crypto businesses.

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The startup has already formed partnerships with key industry players like AML Watcher, Global Ledger, Scorechain, and Fraud.com. Early clients include Change Invest, Crypto2Cash, and Crypto Voucher, among others.

The funding round was backed by early-stage investors Tenity, Startup Wise Guys, DEPO Ventures, and several industry angels.

Kevin Chavanne, Investment Manager at Tenity, noted that as crypto moves into the mainstream, the companies best positioned for success will be those that integrate effortlessly with the regulated financial system.

CryptoSwift is enabling that shift by making transactions transparent, compliant, and seamless. Their early traction and dual fluency in tech and regulation position them perfectly for what comes next.

The funding will help grow the team expand into new markets, and speed up adoption across the EU.

About CryptoSwift

CryptoSwift, founded in 2023, offers an easy-to-integrate compliance platform for crypto businesses. It automates Travel Rule data sharing between VASPs, ensuring alignment with FATF and EU MiCA regulations. With a strong focus on security, privacy and automation, CryptoSwift helps exchanges and wallets stay compliant, reduce risk and scale confidently.