VerifyVASP Alliance Exceeds 100 Members

The VerifyVASP alliance recently welcomed its 100th member, strengthening a growing, collaborative ecosystem of functioning, validated virtual asset service providers (VASPs) that want to ensure compliant, frictionless, immediate and secure virtual asset transfers.

By working closely with our members and public sectors, we have developed industry-proven best practices in travel rule compliance. Many members also choose to use our patented enhanced risk mitigation measure, VerifyName, for transactions with certain counterparties. All members have successfully passed our proprietary due diligence admissions process which allows them to alleviate some of the burden of their own mandatory counterparty VASP due diligence. Our members also have the ability to allowlist the members with whom they wish to transact with.

Within the alliance, we target a success rate (defined by the rate of successfully verified counterparties) of more than 85%, currently standing at 91%. We achieve this through close collaboration and engagement with our members to ensure that the information collected, submitted and verified is underpinned by standards and other best practices.

We would like to thank all of our 100 members for their trust and look forward to many more working groups around the world with existing and prospective members.

If you would like to learn more about VerifyVASP or about our working groups open to all, please email corporate@verifyvasp.com.