Smarter, scalable due diligence with CryptoComply

The Problem

The Wormhole Foundation, a leading organization supporting cross-chain infrastructure and interoperability, was engaging with a growing number of ecosystem partners and counterparties. However, the foundation lacked a streamlined, scalable due diligence process to manage these relationships effectively.

Manual workflows, inconsistent data collection, and disconnected tools made it difficult to assess counterparties with confidence and maintain ongoing compliance. Without continuous monitoring, Wormhole faced potential exposure to sanctions risks, reputational impact, and increasing regulatory scrutiny as its network expanded.

The Solution

Canaria partnered with the Wormhole Foundation to design and implement an end-to-end due diligence program anchored by CryptoComply, Canaria's AI-powered due diligence platform for Web3. Working closely with Wormhole's compliance and operations leads, Canaria helped:

• Deploy CryptoComply to centralize and automate all due diligence workflows
• Collect and verify counterparty information through automated onboarding
• Conduct both basic and enhanced entity reviews, including related-party screening
• Perform real-time wallet screening with automated re-screening for ongoing monitoring
• Customize risk profiles by counterparty type using a risk-based configuration
• Deliver AI-generated summaries and risk scores to support faster, data-backed decisions
• Implement policy and procedure enhancements tied directly to CryptoComply insights
• Provide executive-level reporting with actionable compliance data

CryptoComply empowered the Wormhole Foundation to continuously screen counterparties and wallets against sanctions, watchlists, and adverse media, while documenting every compliance action within a single, auditable platform.

The Results

With CryptoComply integrated into its compliance stack, the Wormhole Foundation established a unified and scalable due diligence function that keeps pace with its rapidly growing ecosystem. Counterparty reviews that once required extensive manual effort were transformed through AI-driven insights and automated alerts. The compliance team moved from reactive monitoring to proactive risk management, gaining full traceability of every decision and action.

• Automated wallet and counterparty screening, accelerating due diligence reviews
• Centralized all documentation within a single, audit-ready platform
• AI-generated insights enabled faster, more consistent compliance decisions
• Real-time alerts surfaced key changes in counterparty risk profiles instantly