21 Travel Rule and the AOPP Portal
Many jurisdictions have extended their implementation of the Travel Rule to include self-hosted wallet transactions if a regulated entity, like a VASP, is involved. Usually, this involves the identification of the originator and beneficiary but can include wallet proof of ownership in certain circumstances.
Additionally, jurisdictions like Switzerland, the UK, and Singapore, require that this proof of ownership be done via a technical means like a Satoshi Test or digital signature. In line with these requirements, 21 Travel Rule simplifies this process for VASPs by enabling seamless proof of ownership experience through the AOPP Portal.
The AOPP Portal was designed to facilitate wallet ownership for both VASPs and customers. Using a link issued in the AOPP Portal, wallet owners can prove ownership instantly with no interruptions in their transaction experience. VASPs benefit from the automated nature of this solution: all that is required is sending a link to their customer. The rest is done automatically, ensuring full Travel Rule compliance.
Below, we explain the AOPP Portal flow from a VASP and wallet owner’s perspective, together with its benefits.
Download the AOPP Portal Guide
How the AOPP Portal Works From a VASP’s Perspective
In their 21 Travel Rule software, VASPs need to click on the Self-hosted Wallets tab and then select the AOPP Portal Link, a green button in the top right corner.
After clicking, a pop-up will appear. Here, the VASP will need to provide the customer ID and the digital asset address type. If selecting bitcoin, the type of transaction—deposit or withdrawal—must be confirmed. Then, click Get AOPP Portal Link.
A unique link will be generated, which the VASP must share with the customer to complete the proof of ownership process.
The customer will click the link and complete the proof of ownership process by following the prompts on their screen and wallet. Once completed, the signed proof will appear automatically under the Self-hosted Wallets tab in the 21 Travel Rule Compliance Dashboard, complete with its risk score, all in seconds.
How the AOPP Portal Works From a Self-hosted Wallet Owner’s Perspective
The VASP will send the customer the AOPP Portal link. After clicking on this link, the customer will follow the prompts to prove wallet ownership.
When the customer clicks on the link initially, a screen will appear requesting that they confirm their wallet type.
Once selected a pop-up will appear directing them to their self-hosted wallet along with the wallet signing instructions.
The wallet owner will complete the signing process, which normally involves confirming that the hash displayed in the pop-up matches the one displayed in their wallet. Once completed, the wallet owner will receive 2 confirmations: a success message in their wallet and one in the AOPP Portal confirming that their address has been successfully registered and they are able to transact.
The Benefits of the AOPP
AOPP is one of the best proof of ownership methods for various reasons.
AOPP is 100% Travel Rule compliant, it meets the requirements put forward in FINMA, the TFR, and various other jurisdictions’ Travel Rule implementations.
As it is deployed on-premises it is completely GDPR compliant.
AOPP does not require address reuse, and so preserves conventional best practices for your business’ confidentiality.
Because addresses are not copied and pasted as with traditional manual signing methods, MITM attacks from crypto-malware are minimised.
AOPP is more reliable than screenshots and video proofs, which can be easily manipulated by senders. Moreover, it is easier and cheaper to perform when compared to Satoshi Tests.
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