Singapore/Hong Kong, 22 November 2022 – Notabene was awarded Best Solution: Virtual Assets – Travel Rule Compliance in the 5th Regulation Asia Awards for Excellence 2022 at an in-person ceremony on 22 November 2022.
The Travel Rule requires cryptocurrency exchanges, digital wallet providers, and financial institutions dealing in virtual assets to disclose specific customer data to their counterparties when transactions exceed a certain threshold. Notabene’s solution enables firms to immediately identify transactions that fall under the requirement, automate counterparty due diligence, and seamlessly and securely exchange and store Travel Rule data.
Notabene also allows firms to set risk-based criteria through a rules engine to automate compliance decisions, verify unhosted wallet ownership, and generate Travel Rule reports. The solution’s blockchain analytics and sanctions screening capabilities used in counterparty and customer due diligence are enabled through integrations with Refinitiv, Chainalysis, Elliptic, Merkle Science, Scorechain, Confirm and TRM Labs.
“Notabene has built a universal Travel Rule protocol gateway to address the current lack of a messaging protocol that is open to all VASPs,” noted one judge on the Regulation Asia awards panel. “This protocol-agnostic approach, as well as a free sunrise plan being offered by Notabene, helps crypto firms come into compliance even in jurisdictions where the Travel Rule is not yet a regulatory requirement.”
Notabene’s Travel Rule solution is currently being used by some of the most well-known digital asset exchanges globally, including Bitstamp, Okcoin, Luno, Crypto.com, Matrixport and OSL. The solution is currently available in English, Korean, Japanese and Chinese.
About the Regulation Asia Awards for Excellence 2022
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.
For a full list of the award 2022 winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source of actionable regulatory intelligence for Asia Pacific markets. With over 12,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.