Digital wealth platform Okazio has partnered with global RegTech provider iDenfy to integrate end-to-end identity verification and anti-money laundering (AML) tools, positioning the firm for full compliance with the European Union’s Markets in Crypto-Assets Regulation (MiCA). The solution combines know-your-customer (KYC) automation with real-time sanctions screening, streamlining onboarding while supporting the evolving regulatory environment in the EU.
Biometric verification and sanctions screening
iDenfy’s system authenticates government-issued ID documents from more than 200 jurisdictions and applies biometric facial recognition with 3D liveness detection. It also screens users against global sanctions databases and politically exposed persons (PEP) lists. According to the companies, the integration has already shortened onboarding times to just a few minutes, while maintaining a full audit trail to support compliance reporting.
The initiative comes ahead of the final MiCA compliance deadline at the end of 2025, when rules for crypto-asset service providers – including exchanges, custodians, and portfolio managers – will take effect. The first phase of MiCA, focused on stablecoins and disclosure obligations, came into force in December 2024. The upcoming phase requires digital asset platforms to implement robust identity verification and transaction monitoring procedures.
Regulatory pressure and industry response
Founded in 2022, Okazio offers a managed interface for users to access crypto portfolios and decentralized finance (DeFi) income strategies. The company is registered in Delaware and operates its platform from Slovakia. Its decision to adopt third-party compliance infrastructure reflects a broader trend among smaller crypto firms seeking turnkey RegTech solutions rather than developing in-house systems.
iDenfy, established in 2017, provides AI-based fraud prevention tools to over 500 clients worldwide. The company was recognized in G2’s Winter 2024 identity verification rankings as one of the top providers in its category.
The partnership comes amid heightened scrutiny of the crypto sector. According to Chainalysis, digital asset platforms recorded an estimated $2.2 billion in theft-related losses in 2024, up 21 percent year-over-year. Policymakers have pointed to such trends to justify tighter KYC and AML mandates under frameworks like MiCA.
“This regulatory shift is an opportunity, not a burden,” said Okazio CEO Martin Bittara. iDenfy CEO Domantas Ciulde added that the integration reflects “a new standard” for platforms aiming to meet both performance expectations and regulatory requirements.
With final technical standards under MiCA expected later this year, crypto firms serving the EU market face growing pressure to implement verifiable compliance infrastructure. Okazio’s move underscores the increasing role of RegTech vendors in helping firms meet that demand.
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By Ji-seo Kim
