VerifyVASP

VerifyVASP is a decentralised alliance and data-exchange protocol for the FATF Travel Rule and counterparty checks between VASPs, active in Asia and worldwide. It was founded in 2020 and is based in Singapore.

Services The company lists Immediate Travel Rule Messaging, VASP Due Diligence, Pre-transaction KYT Integration and a design that is GDPR and PDPA compliant. Before a transfer, the sending VASP identifies the receiving one, exchanges the required originator and beneficiary data and can run a KYT check.

Membership VerifyVASP names major exchanges among its users, including Binance, Upbit, OKX, Crypto.com and Kraken, as well as custodians and crypto PSPs. The company states that it supports the large majority of exchange Travel Rule transfer volume in Asia and globally.

Markets and fees Stated geography covers Singapore, South Korea, Hong Kong, Japan, the UAE, the EU and global reach. Participation is paid through a membership or transaction fee. Because Travel Rule duties differ by jurisdiction, check which regimes your counterparties are covered by.