London, August 12th — Coinfirm, leading blockchain analytics and Anti-Money Laundering (AML) joined OpenVASP Association, a non profit organisation with aim to develop an open protocol to implement FATF’s Travel Rule for virtual assets.
In June Coinfirm announced the launch of an all-in-one FATF Travel Rule solution to help Virtual Asset Service Providers (VASPs) and regulators better manage the risk of cryptocurrency transactions. The solution delivers on recommendations made by The Financial Action Task Force (FATF) in their quest to develop policies that combat international money laundering, known as the Travel Rule.
Coinfirm’s decision to join the Open VASP Association is another step forward.
The OpenVASP Association has the objective to establish and maintain an open protocol for the transmission of transaction information between Virtual Asset Service Providers (VASPs) and other parties. Its particular goal is to facilitate robust compliance with Recommendation 16 of the Financial Action Task Force (FATF) – the “Travel Rule”.
Being a non-profit organization, the Association continues to welcome additional members globally. To join as a VASP Member, a company must be registered and/or licensed according to the requirements of its jurisdiction. Non-VASP entities and individuals can become members as well. For more information please visit: https://openvasp.org/
Coinfirm is a global leader in AML and regulatory technology for blockchain and cryptocurrencies. It offers the industry’s largest blockchain coverage, supporting over 1,400 cryptocurrencies and protocols including Bitcoin, Ethereum, Hyperledger, and many more. Coinfirm’s solutions are used by market leaders globally, ranging from crypto exchanges such as Binance, and protocols like XRP, to major financial institutions like PKO BP. The company’s services also include Reclaim Crypto, as well as Trudatum, a standalone regtech platform that allows any file to be registered, signed, and verified with 100% accuracy. For more information, please visit: https://www.coinfirm.com/