The Financial Action Task Force's (FATF) Recommendation 16 requires VASPs to exchange originator and beneficiary information. However, many VASPs faced a significant challenge: variances in the format of data exchanged.
This prompted the development of the IVMS Validator.

Recently the Blockchain Intelligence Group (BIG) and 21 Analytics AG conducted interoperability testing of their TRP implementations with great success.

Through TRP more and more vendors are connecting. Another win for TRP and further evidence that it is the leading permissionless, open-source protocol for exchanging Travel Rule data between VASPs.

Due to the FATF’s, TFR’s and MiCA’s added compliance requirements, VASPs have had to seek technical solutions to continue their day-to-day operations.

Irrespective of which technical solution a VASP selects, the solution will use a protocol.

Find out why VASPs are choosing the Travel Rule Protocol (TRP) below.

The Travel Rule Protocol (TRP) is the leading permissionless, open-source, privacy-by-design protocol for exchanging Travel Rule data between VASPs.
Learn why you should choose TRP and how your business can benefit from it in the blog below.

The OpenVASP Association is a Swiss non-profit organisation dedicated to advancing compliance in the virtual asset industry with 3 main goals:

1. To enable VASPs and other entities to fully comply with the FATF’s Travel Rule,

2. To maintain an open, decentralized and privacy-by-design protocol for the transmission of transaction information between VASPs and other parties,

3. To set up governance and compliance standards allowing better industry cooperation and collaboration for this protocol to guarantee privacy and decentralization.

Find out how the OpenVASP Association achieves these goals in blog below.