German crypto giant Tangany is building on Swiss open source power

Tangany, one of the leading German crypto custodians, strengthens his compliance strategy with an innovative Swiss solution. The new partnership with 21 analytics relies on open source software that combines data protection and regulatory requirements.

In the course of tangled European guidelines, Tangany optimizes its processes decisively. This not only brings security, but also provides the company an important competitive advantage.

Tangany relies on Swiss data protection solution for the EU Travel Rule

Given the new European Anti-money laundering guidelines Many crypto service providers revised their strategies. Tangany opted for an open, sustainable approach: The Travel Rule Protocol (TRP) solution of 21 analytics from Switzerland. The FinTech, based in Zug, offers open source software that was specially developed for compliance with the new EU Travel Rule.

The so-called Travel Rule, which is now part of the EU legal framework, obliges crypto custody to record and exchange the sender and recipient data for transfers. This resulted in an urgent need for safe and interoperable communication solutions. While many providers Set closed networksTangany deliberately decided to make an open alternative.

TRP offers complete data control and runs on premises at the customer. Tangany brings this property clear advantages with regard to the soon valid Dora Ordinance. The new regulation of the EU requires strict security standards for outsourced IT services. With the local installation of the TRP software, Tangany ensures the independence of its infrastructure and is already fulfilling the upcoming requirements.

In addition, Tangany integrated the AOP process for verification self-managed wallets. This enables users to demonstrate possession of Wallets without giving up their privacy. Simon Kirnberger, Product Owner at Tangany, explained:

“The implementation significantly reduced our support effort and at the same time improved the user experience-a key factor for our scaling B2B business.”

The new strategy allows Tangany to determine which counterparties are working with. The company gives the company's additional flexibility and strengthens the company and strengthens its position compared to the growing institutional customers. Tangany, which has a BaFin license to maintain crypto-assets, looks after more than 60 institutional customers with a white label API model for Cryptocurrencies, NFTs and tokenized securities.

In an environment in which European institutions have increasingly strict requirements, this decentralized approach could make school. Especially for banks, asset managers and fintechs, the data protection-friendly compliance solution is becoming increasingly attractive.

Swiss crypto expertise as the key to the new EU conformity

“We appreciate the close cooperation with the team of 21 analytics and the excellent user experience of the product,” emphasized Kirnberger. 21 Analytics pursues a clear focus on data protection and transparency in the blockchain industry. Instead of proprietary ecosystems, the company consistently relies on open standards that enable full data sovereignty.

The trp of 21 analytics is currently the only open protocol for the Travel Rule-compliance on the market. It was created in close cooperation with international regulatory authorities and the Crypto Industry. The company was founded in 2020 by the Blockchain pioneers Filip Gospodinov, Dominik Spicher and Lucas Betchart, who have shaped the development of decentralized technologies since 2014.

New developments show: Especially with regard to the upcoming Mica regulation The EU (Markets in Crypto-Assets Regulation) gains the choice of open, interoperable solutions enormously in importance. Institutional investors are increasingly demanding transparency, data protection and regulatory security – this is where Tangany positions itself Perfect to his new partner.