Self-hosted wallets, also known as non-custodial wallets, allow users to store their cryptocurrency assets securely without the need for a third-party custodian. Unlike hosted wallets, which store a user's private keys on a server owned by a centralized entity, unhosted wallets give users complete control over their private keys, enabling them to manage their assets directly.
When creating a transfer on the Notabene dashboard, you can select the "Non-custodial beneficiary wallet" checkbox. This allows you to send the Travel Rule transfer without filling out the Beneficiary VASP section.
Each jurisdiction has different Travel Rule requirements for transactions involving self-hosted wallets. You can find more information about these requirements in our Knowledge Base section entitled "Jurisdictional Requirements". In this section, we provide detailed explanations of the Travel Rule requirements for various jurisdictions around the world. However, it is important to note that regulatory requirements can change frequently, so it is recommended that you also check with your local regulator to determine the best approach. Your local regulator can provide you with the most up-to-date information and help you ensure that your transactions are compliant with the relevant laws and regulations.
Our support team is happy to address any questions or concerns you may have.