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Crypto exchange Changelly partners with Sum&Substance for KYC

Non-custodial cryptocurrency exchange service Changelly, announced today that is has partnered with Sum&Substance, an AI-based ecosystem, which allows online services around the world to meet regulatory requirements, prevent fraud and enhance customer confidence.

The Sumsub KYC check will be implemented directly inside the exchange process so that Changelly users won’t need to leave the familiar interface and interrupt the swap. Before performing a transaction, the Changelly system will prompt the user for a photo of his ID and a selfie with it. All the pegged documents will be scanned automatically and the whole screening process will take from 5 to 10 minutes.

Changelly users will only need to pass KYC verification once to continually be able to swap any crypto amounts in the future.

“It’s crucial not only to be fully compliant with the requirements but also to provide the most convenient user experience. That is the challenge that Sumsub ecosystem meets perfectly. Changelly users will only need to pass KYC once through our system to access hundreds of partner services at the touch of a button. At the same time, the system will ensure the full compliance with the EU regulations.” 

Jacob Sever, Co-founder at Sumsub

“As operations with virtual assets steadily become a part of our daily routines we at Changelly make a new step forward making crypto swaps more handy and safe. We introduce our partner – Sumsub which turns up a user verification on our service so quick, easy and reliable. Sumsub brings top technologies, high expertise and full law compliance into AML/KYC process, I’m sure that together we can make the crypto world a cozy place to live in.”

COO Changelly, Dmitry Burin
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