TRUST

TRUST is an industry consortium and P2P protocol for Travel Rule compliance without a central store of personal data, led by Coinbase, Circle, Kraken and BitGo. It was formed in 2022 and is based in San Francisco.

How it works The listed items are an encrypted P2P Travel Rule exchange, proof of address ownership, VASP vetting and a zero central data store. Personal data goes directly between the participating institutions.

Members and markets The company puts membership at 100+ participants. Target members are regulated crypto exchanges, custodians, stablecoin issuers and institutional PSPs. Markets named are the United States, Canada, the United Kingdom, the EU and Singapore, and it is described as the standard for work with regulated institutions in North America and Europe.

Terms The model is consortium-based, so membership conditions and costs are set by the participants and should be requested.

The absence of a central data store is the main design point for compliance officers worried about holding customer information in a third-party database.