Onclev, a Korean virtual asset regtech startup, announced on the 22nd that it has secured seed funding from MY Social Company (MYSC). Established in 2020, Onclev utilizes AI and blockchain technology to combat financial crimes and money laundering, advancing technology in financial regulatory monitoring and criminal investigations. 

The company provides forensic software that automatically tracks complex virtual asset transactions and delivers evidence for criminal cases. It aims to develop comprehensive anti-money laundering technologies to foster a more transparent financial ecosystem. Onclev also participated in MYSC’s fintech accelerator program, “Fintech Innovation School,” where it received substantial support and achieved significant growth.

Kim Young-woo, Senior Consultant at MYSC, who led the investment, remarked, “As the virtual asset market expands, financial and violent crimes exploiting its anonymity are on the rise. We recognized the market potential of Onclev’s solution and decided to invest.”

Onclev CEO Lee Jae-won stated, “The support from MYSC’s programs and partners has enabled us to grow rapidly. With this investment, we plan to further enhance our technological capabilities and strengthen collaborations with financial institutions.”