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Sumsub, a global verification and compliance provider, announced its partnership with crypto exchange Binance to integrate its TravelRule solutio n through the Global TravelRule (GTR) Alliance.
As crypto adoption accelerates, regulators are ramping up enforcement of the Financial Action Task Force’s (FATF) TravelRule compliance in APAC. As a result, many have passed legislation to implement the TravelRule for virtual asset service providers (VASPs).
With OJK taking the regulatory reins and the TravelRule now in force, crypto firms in Indonesia must evolve fast or risk falling behind in global markets, regulatory approval, and user trust. Businesses want faster verification processes and to improve user experience, a major bottleneck in onboarding users.”
Global verification provider Sumsub has partnered Elliptic, a cryptoasset risk management firm, to bolster its crypto transaction monitoring and TravelRule solutions. As blockchain technology advances, so do the threats it faces, making comprehensive and adaptive tools essential. said James Smith, Co-founder of Elliptic.
But with innovation comes risk – especially around identity verification and fraud prevention. By implementing Sumsub’s no-code identity verification platform, dtcpay simplified Know Your Client (KYC) and onboarding to provide a smooth, secure user experience. Singapore is one of the world’s leading hubs for fintech innovation.
Sumsub , a global full-cycle verification and compliance provider, has completed the integration of its TravelRule solution with Binance , the crypto exchange platform, through the Global TravelRule (GTR) Alliance.
Today Sumsub, a global full-cycle verification provider, announces the integration of its TravelRule solution with the Sygna TravelRule protocol to allow its crypto and fintech clients to communicate with the Virtual Asset Service Providers (VASPs) in the Sygna ecosystem, particularly with those in Japan and Taiwan.
The initial course offerings will cover Business Verification Fundamentals, Transaction Monitoring, TravelRule, and how to collect data for successful KYC. Andrew Novoselsky “Were not only supporting career growth but also helping organisations worldwide protect their ecosystems from ever-changing threats, he continued.
Verification provider Sumsub has partnered with payments infrastructure platform Mercuryo to publish a guide about TravelRule for Virtual Asset Service Providers (VASPs).
Global full-cycle verification and compliance provider, Sumsub , has recently announced its integration with Global TravelRule (GTR) for crypto companies to securely validate data.
Verification provider Sumsub announced a partnership with blockchain data platform Chainalysis this week. Full-cycle verification provider and FinovateEurope alum Sumsub announced an integration with blockchain data platform Chainalysis this week. Sumsub made its Finovate debut at FinovateEurope 2020 in Berlin, Germany.
The European Banking Authority (EBA) issued new Guidelines on the so-called ‘travelrule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes.
Sumsub, a global verification provider, has integrated with Chainalysis, a blockchain data platform. This collaboration aims to enhance regulatory compliance, secure data storage, and automate crypto transaction monitoring for their clients.
Use of Multiple Intermediary Wallets Interestingly, the number of intermediary wallets used by bad actors is growing faster on exchanges with Know Your Customer (KYC) verification processes compared to non-KYC exchanges.
Full-cycle verification platform, Sumsub has enhanced its Crypto Transaction Monitoring and TravelRule solutions following an integration with Elliptic , the cryptoasset risk manager.
Mastercard Crypto Credential provides the assurance that the user has met a set of verification standards. Mastercard Crypto Credential supports the exchange of travelrule information for cross-border transactions. It also confirms that the recipient’s wallet supports the transferred asset.
These ‘travelrule’ Guidelines specify the steps that Payment Service Providers (PSPs), Intermediary PSPs (IPSPs), crypto-asset service providers (CASPs) and Intermediary CASPs (ICASPs) should take to detect missing or incomplete information that accompanies a transfer of funds or crypto-assets.
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