Tenity has invested €510,000 in CryptoSwift as part of its pre-seed funding round to enhance regulated finance infrastructure in the evolving European cryptocurrency landscape.

Target Information

CryptoSwift is an innovative company dedicated to establishing a foundational compliance layer for the cryptocurrency sector. Its primary objective is to facilitate secure and seamless data exchanges between Virtual Asset Service Providers (VASPs), financial institutions, and regulators. By focusing on compliance-first practices, CryptoSwift is positioned to adapt to and thrive in the evolving regulatory landscape characterized by initiatives such as the Markets in Crypto-Assets (MiCA) regulation and the Travel Rule, making it a significant player in the field.

The startup, led by founder Indrek Ulst, combines extensive technical acumen with commercial execution and regulatory knowledge. This unique blend of skills is crucial for navigating the demands of a compliance-focused market, as showcased through Ulst's previous success in running a software development agency that catered to both startups and established businesses.

Industry Overview

The cryptocurrency industry in Europe is undergoing a transformative phase as regulations like MiCA and the Travel Rule are being introduced. These regulations are reshaping the operational landscape for crypto businesses, ensuring a structured framework