21 Travel Rule: Easier Solana Self-hosted Wallet Verification

With the addition of Solana support, 21 Analytics’ Travel Rule solution now enables VASPs to quickly and securely verify ownership of self-hosted wallets transacting Solana Blockchain-based tokens, such as SOL, via the AOPP Portal. This integration ensures regulatory compliance while maintaining a seamless user experience.

Why Support Solana?

Solana has quickly emerged as a leading network known for its low transaction costs. Due to its unique Proof of History consensus mechanism, it became a preferred choice for DeFi projects. 

The demand from 21 Analytics' regulated VASP customers to provide user-friendly wallet verification solutions for Solana has spiked. As Travel Rule deadlines rapidly approach, the growth of SOL (Solana's native token) in adoption and market value drives crypto firms' compliance needs.

Hence, its inclusion was a logical upgrade for the 21 Analytics’ AOPP Portal, ensuring uninterrupted transactions for SOL holders while VASPs securely meet global regulatory standards.  

Solana and the AOPP Portal

Using their 21 Travel Rule software, VASPs can automatically generate unique proof links when customers request to transact with their self-hosted wallets (for example, depositing or withdrawing SOL from their VASPs). They simply navigate to the Self-hosted Wallets tab and select AOPP Portal Link, the below pop-up will appear for the VASP to complete and select the Solana as the digital asset address type followed by clicking Get AOPP Portal Link. Of course, this can also be done fully automated through our API.

A link will be generated and is to be shared with the wallet owner. The wallet owner then follows a series of prompts to prove wallet ownership. Upon completion of the process, the proof of ownership will automatically appear under the Self–hosted Wallets tab in the 21 Travel Rule Compliance Dashboard. 

To see these steps in greater detail, read: 21 Travel Rule and the AOPP Portal 

Compliance with Minimal Efforts 

By integrating Solana into our already expansive list of digital assets, VASPs have a quick and straightforward solution to self-hosted wallet proofs that does not impact their customers’ user experience like other methods. Additionally, as proofs provided via the AOPP Portal are secure, they are assured Travel Rule compliance, especially relevant to the fast-approaching Transfer of Funds Regulation. 

Moreover, wallet owners will have even more flexibility when transacting and a simplified user experience while safeguarding their assets.   

In addition to Solana, the AOPP Portal supports all digital assets native to the Bitcoin and Ethereum blockchains. 

Discover why 21 Travel Rule solution is the only Travel Rule solution for guaranteed compliance. Keep a simple user experience, automate compliance and secure your data with 21 Travel Rule.