Wealth management platform securely checks crypto investors in 2 minutes

Cabital a digital assets wealth management platform, valued at 40 million USD, that offers crypto-based savings products, has chosen Sumsub's all-in-one KYC/AML toolkit. This integration aims to conduct secure checks of potential crypto investors in just 2 minutes—all while ensuring 100% compliance with Europe’s strictest demands.

Based in Lithuania, Cabital offers crypto-based savings products that promise interest rates as high as 12%. To stay in line with European AML/CTF principles and Lithuania’s domestic requirements, Cabital needed to find a secure and compliant solution for customer verification and due diligence. They also needed to ensure that identity checks wouldn’t hamper conversion, which is why they chose Sumsub’s solution in particular. 

Sumsub will provide Cabital with sophisticated and secure 2-minute identity checks, adjustable to the requirements of 220+ countries and territories. Users  pass Sumsub’s verification routine in two quick steps: first, they submit a photo of their passport; then, they go through biometric video identification (otherwise known as “liveness”). The liveness step will further enhance Cabital’s security, given its compliance with iBeta, the highest quality standard in facial biometrics. Cabital will also benefit from Sumsub’s automatic reporting, which is easily generated and accepted by European regulators.