Automate data transfers with counterparties and ensure compliance with the latest regulatory requirements worldwide
Access the largest VASP network with flexible architecture and seamless integrations, ensuring compliant transactions.
Empower your compliance with integrated AML checks, advanced rules engines, and unhosted wallet verification, covering all assets and blockchains.
Streamline your journey with integrated tools for Travel Rule compliance, anti-fraud, KYC, and transaction monitoring.
Avoid costly multiple vendors with one full-cycle verification solution that includes Travel Rule, anti-fraud, KYC, and Crypto Transaction Monitoring tools.
Full interoperability across current and future protocols. Exchange and connect information within a secure environment without worrying about changing regulations.
Get instantly notified about users designated as politically exposed persons (PEPs) and individuals listed in various sanctions and watchlists worldwide.
Arm yourself with useful information about Sunrise VASPs. Make risk-based decisions armed with valuable data and checks carried out by Sumsub.
Sumsub conducts thorough VASP Due Diligence on behalf of our clients, building trust in counterparty sanctions screening.
Sumsub excels in VASP discovery thanks to partnerships with multiple blockchain analytics companies, attributing wallets with precision.
Allows VASPs to verify ownership of self-hosted wallets, ensuring transparency and security in cryptocurrency transactions.
The solution integrates with all existing or synthetic tokens. Navigate the diverse blockchain landscape without restrictions.
Automate decisions to meet all regulatory requirements. Our flexible Rules Engine will help you build custom rules and library updates.
CEO at Guardarian
We discovered that our long-time partner, Sumsub, was actively working on a solution for the Travel Rule as part of their Transaction Monitoring offering. Having already experienced top-notch service from Sumsub for customer verification, we opted for Sumsub over alternative Travel Rule services.
FATF Recommendation #16 mandates VASPs and financial firms to share the personal data of those engaging in virtual asset transfers to curb money laundering.
Virtual Asset Service Provider—or VASP is entity or business that offer services related to virtual assets, such as cryptocurrencies. These services can include cryptocurrency exchanges, wallet providers, and other platforms that facilitate the storage, transfer, or exchange of digital assets.
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
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.
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.
The Travel Rule has broad-reaching implications for an extensive array of entities operating within the cryptocurrency ecosystem. However, VASPs are affected most directly.
According to the FATF, a VASP is a natural or legal person who, as a business, conducts the following activities:
- Exchange between virtual assets and fiat currencies.
- Exchange between one or more forms of virtual assets.
- Transfer of virtual assets.
- Safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets.
- Participation in and provision of financial services related to an issuer’s offer and/or sale of a virtual asset.
Simplify your journey to Travel Rule compliance with practical steps and insights from Sumsub’s partnership with Mercuryo