Travel Rule Compliance Solved
Qredo enables Virtual Asset Service Providers to easily comply with the Travel Rule by identifying other VASPs and securely sharing transaction data.
Qredo is the world's only Travel Rule solution that reduces the burden of compliance and gives VASPs the power to block transactions.
Reduce the burden of compliance
In-band transactions bind compliance data to the assets being transferred, eliminating the need for cumbersome reconciliation processes.
Never receive toxic assets
Quarantine allows transactions to be automatically approved or rejected, ensuring VASPs are never exposed to toxic assets.
Plug straight into existing systems
The Qredo API enables compliance operations to be integrated with existing software and scaled to meet enterprise needs.
One solution for all virtual asset service providers (VASPs)
“As the regulatory landscape continues to shift, digital asset businesses will need flexible compliance solutions to accommodate changing obligations. Qredo's unique model of decentralized multi-party computation provides the futureproof foundation to enable the architects of the new digital economy to comply with the Travel Rule — and quickly adapt to new regulatory requirements."
Ben Whitby, Qredo Head of Regulatory Affairs
Travel Rule FAQ
What is the Travel Rule?
In a nutshell, the Travel Rule requires all Virtual Asset Service Providers (VASPs) to share identifying information — including names, physical addresses, and national ID numbers — for the originators and beneficiaries of digital asset transfers.
What is a VASP?
The Financial Action Task Force's updated guidance of October 2021 expands the definition of VASP to include not only entities such as banks and exchanges that deal in crypto assets, but also businesses providing safeguarding or administration such as licensed custodians. Businesses undertaking any of the following activities on behalf of clients are captured by the guidance:
Exchange between virtual assets and fiat currencies;
Exchange between one or more forms of virtual assets;
Transfer of virtual assets;
Safekeeping and/or administration of virtual assets or instruments enabling control over virtual assets;
and Participation in and provision of financial services related to an issuer’s offer and/or sale of a virtual asset.
What is the threshold for transfers subject to the Travel Rule?
The transaction threshold at which the full set of obligations kicks in is 1,000 USD / EUR, and at least one jurisdiction has set this value to zero, meaning that every transaction of a certain type must be assessed and appropriate compliance measures put in place.