New Feature: Verification Statement

We are excited to announce a new feature in our dashboard: the Verification Statement. This tool allows members to search for and download a verification statement by transaction ID (TXID) or verification ID, offering a reliable confirmation that Travel Rule compliance has been performed for Virtual Asset transfers.

The Verification Statement, similar to a bank’s transfer confirmation, provides comprehensive details to ensure transparency and compliance. It consists of three main sections:

1. Transaction Summary: Includes information about the Ordering and Beneficiary VASP entities, the digital asset type, transaction amount, TXID, verification result, and timestamp.

2. Transaction Detail: Provides specifics on the originator and beneficiary addresses, asset type, transaction amount, and value in dollars, along with the relevant currency and transaction hash.

3. Verification Detail: Specifies the verification type (such as Travel Rule or VerifyName), a unique Verification ID, and timestamps for when the verification was initiated and completed, along with the verification result.

This feature enhances our existing Analytics capabilities, allowing members to access and download transaction records based on their specific search criteria. The introduction of the Verification Statement marks a significant step forward in demonstrating Travel Rule compliance at the transaction level, promoting greater transparency within the Virtual Assets industry. If you are interested in learning more, please contact corporate@verifyvasp.com.