Capital Union Bank launches Cryptocurrency solutions, selects Chainalysis as compliance partner


NEW YORK, USA – Chainalysis, the blockchain data platform, today announced a partnership with Capital Union Bank, which serves private & institutional clients and is based in the Bahamas. Capital Union tapped Chainalysis for their risk management software and expertise to ensure the safe and compliant rollout of cryptocurrency solutions – including trading and custody – to their customers.

Driven by growing demand from high net worth individuals, financial intermediaries, and larger institutions to diversify their portfolios with cryptocurrencies, Capital Union Bank is on the forefront of providing cryptocurrency exposure to their customers. Building out cryptocurrency services brings additional regulatory scrutiny, and Capital Union Bank, which is regulated by the Central Bank of the Bahamas and the Securities Commission of the Bahamas, will integrate Chainalysis compliance software in support of comprehensive risk management and due diligence practices.

“As an independent bank in The Bahamas, Capital Union Bank is uniquely positioned to build a bridge between sophisticated investors and the crypto-assets markets,” said Patrick Zbinden, chief executive officer. “With Chainalysis by our side, we feel equipped to provide these new services in a safe and compliant way.”

“Financial institutions are integral to the overall growth of the cryptocurrency industry, and partnering with respected banks like Capital Union will help build trust in the industry,” said Jonathan Levin, co-founder and chief strategy officer, Chainalysis. “We’re thrilled to partner with such a forward-thinking bank and look forward to enabling the further adoption of cryptocurrency, safely.”

Capital Union Bank will adopt Chainalysis KYT (Know Your Transaction) and Reactor. Chainalysis KYT performs continuous, real-time transaction monitoring for all cryptocurrency assets to detect patterns of high-risk activity. Chainalysis Reactor, the investigative tool, provides deeper due diligence into suspicious activity.


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