Travel Rule solution
A Crypto Travel Rule solution that covers all the bases
Automate data transfers with counterparties and ensure compliance with the latest regulatory requirements
Meet all requirements in jurisdictions enforcing Travel Rule regulations with ease. Our experts are ready to help you
Ensure smooth data transfers for every transaction by delegating Sumsub to identify and reach counterparties globally
Opt for a no-code solution that fits right into your day-to-day workflow and helps you scale up operations
Get a free tool to comply with the Travel Rule
Connect to over 500 VASPs in the Sumsub client ecosystem and both send and receive Travel Rule transfers from members for free for all 6 months!
The Crypto Travel Rule (FATF Recommendation #16) requires VASPs and financial institutions engaged in virtual asset transfers to collect and share the personal data of transaction originators and beneficiaries. This is done to prevent crime such as money laundering.
Let the numbers do the talking: get 240% ROI
Сompanies that work with Sumsub save costs and increase revenue, according to the “Total Economic Impact™ Of Sumsub’s Verification Platform study by Forrester Consulting. Let’s see what results you can get
240%
ROI
3.21M
NPV
4.55M
Benefits PV
< 6
months payback
How our Travel Rule solution works
Automate data exchange on participants in transactions with other providers, including their names, wallet addresses, and more
Stay compliant under any circumstances
No more worrying about multiple protocols and sunrise challenges. Sumsub has you covered in any situation
Engage with other VASPs via Sumsub’s internal protocol and ensure instant, fully-automated transfers
Easily interact with the VASPs outside Sumsub’s network via external protocols like TRP
Let Sumsub identify, chase, and verify every VASP, even if it doesn’t have a Travel Rule solution yet
Connect your partners to Sumsub’s network in no time with a streamlined onboarding flow
Make informed decisions
and report easily
Review all transactions, easily send information, and request missing data if needed with a convenient interface.
With no-code rules, you'll be able to ensure seamless transaction processing, even as your business scales.
Sumsub keeps step-by-step records to track and verify every transaction, regardless of whether your counterparty is a VASP or an unhosted wallet.
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FAQ
- What is a Travel Rule solution?
A Travel Rule solution is a platform that automates data transfers required by FATF Recommendation #16. This includes obtaining, holding, and transmitting required originator and beneficiary information in virtual asset transfers. Specialized Travel Rule solutions allow virtual asset service providers (VASPs) and financial institutions to stay compliant and prevent money-laundering, terrorist financing, and other fraud activity
- Who does the crypto Travel Rule apply to?
The Crypto Travel Rule applies to virtual asset service providers (VASPs) and financial institutions involved in virtual assets (VA) transfers. According to the FATF, a company is considered a VASP if it provides the following services: exchange between virtual assets and fiat currencies, exchange between one or more forms of virtual assets, transfer of virtual assets, and more.
- What are the Travel Rule requirements?
The main Travel Rule requirements include the need for VASPs and financial institutions to obtain, hold, and transmit required originator and beneficiary information, immediately and securely, when conducting VA (Virtual Asset) transfers.