According to FATF's Travel Rule guidelines, VASPs should limit or completely restrict transactions with counterparties which don't reply to their Travel Rule data transfers. This requirement has led to a growing number of VASPs requiring their transaction counterparties to send and respond to Travel Rule data transfers.
This is an important action against money laundering and terrorist financing in the cryptocurrency industry. However, it can generate a series of challenges for compliance officers in their efforts to ensure that they can effectively monitor and track all virtual asset transactions made on their platforms.
Notabene's SafeTransact-Rise plan aims to ease the transition by offering a free and easy-to-implement solution. You simply need to create a SafeTransact account to start receiving and managing Travel Rule transfers in an all-in-one dashboard. No integration is required.
Notabene’s SafeTransact-Rise plan
Free plan
No integration required. Zero developer resources.
Respond to unlimited Travel Rule data transfers received from your counterparties
Automate responses to Travel Rule data transfers
Send Travel Rule data transfers up to $10k in volume
Manage Travel Rule workflows in one dashboard
Due Diligence on VASP counterparties as per FATF Guidance
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Search for your VASP in Notabene’s VASP network.
If you find your VASP, click on “Claim” and follow the steps described here.
If you do not find your VASP, click here to create an account by following this article.
Contact our Support team if you have any questions or need any assistance.