On August 10, Blockchain based company, Lambda256, announced that 12 global blockchain and digital asset service providers and related organizations have joined VerifyVASP Alliance.

VerifyVASP is a solution that allows digital asset providers to quickly and safely share transferred digital asset data according to the “travel rules” announced by FATF last year. Through the solution, it is possible to share information of digital asset senders and receivers in real time using the distributed protocol provided by Lambda256.

VerifyVASP Alliance consists of companies related cryptocurrency exchange, payment/remittance, wallet service, and data analysis. Companies and institutions that have confirmed participation in the alliance are Bitkan, Indodax, Legatus Global, Merkle Science, Pintu, Pundi X, Skybit, Sparrow, Upbit APAC, VCC, Zipmex, Indonesian Blockchain Association, and others.

VerifyVASP and Lambda256 aim to continue expanding the alliance to various regions including North America and Europe, starting with Korea and Singapore.

Lambda256 said, “After the first release of VerifyVASP, many blockchain and fintech companies that need to follow travel rule showed intentions to participate in the alliance. We believe the more companies participating, the more effective the solution gets in providing anti-money laundering and sorting out illegal transactions.

번역: 김동우 기자