21 Travel Rule: Version 4 Released
Since the first version of our 21 Travel Rule, we have come a long way. While we have always been a multiprotocol Travel Rule solution provider, we have upped the ante with our added functionalities.
One of the driving forces behind our solution development is the desire to make compliance to the Financial Action Task Force’s (FATF’s) Travel Rule as simple and streamlined as possible for virtual asset service providers (VASPs).
With this in mind, Version 4 has seen the 21 Travel Rule functionalities get smarter.
VASPs can now support offline transactions, that is, the registration of transactions not obtained via protocols and support registration of transactions via email.
Version 4 is fully compliant with TRP 2.0. VASPs that use a solution based on version 2.0 of the Travel Rule Protocol (TRP) have the competitive advantage of solving a crucial issue when implementing the Travel Rule: the discoverability of counterparties.
Moreover, fiat prices can be checked via Messari; this is a fast way to ascertain prices and helps make informed decisions on whether to flag a transaction.
On top of this, Address Ownership Proof Protocol (AOPP) doesn’t only support BTC addresses; it now supports Ethereum addresses as well.
What’s New in Version 4?
See our list of improvements in bullet form.
VASPs can support registration of transactions not obtained via protocols, in other words, offline transactions and,
Support registration of transactions via email,
Version 4 is fully compatible with TRP 2.0,
Quickly obtain fiat prices via Messari,
There is server-side CSV table export and improved GraphQL schema docs,
The Ethereum address formatting has been fixed and,
'Standard' Ethereum address format is now supported by AOPP.
With the new release, Version 4 is committed to being multiprotocol while still focusing on data protection for all parties involved.
Want to know more? Better yet, want to try out our new features?
