Singapore's CapBridge Financial, Matrixport, Huobi Singapore, and RioStox Successfully Test "Travel Rule" Compliant Transactions with Notabene
Retrieved on:
Tuesday, May 3, 2022
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NEW YORK, May 3, 2022 /PRNewswire-PRWeb/ -- Notabene, an end-to-end solution for crypto regulatory compliance, has announced the successful completion of a Travel Rule testnet with Singapore digital finance group CapBridge Financial, Matrixport, Asia's fast-growing digital assets financial services platform, Huobi Singapore, a leading digital assets exchange platform, and RioStox, a licensed securities exchange building a global multi-market tokenized ecosystem for digital securities and digital assets.
Key Points:
- FATF's "Travel Rule" mandates novel VASP to VASP collaboration to share verifiable customer information for transactions over jurisdiction-specific thresholds.
- The collaborative framework provides a low-risk environment for CapBridge Financial, Matrixport, Huobi Singapore, and RioStox to test complex Travel Rule transactions as they gear up to comply with impending regulations in Singapore and Hong Kong.
- With participation in this testnet, CapBridge Financial, Matrixport, Huobi Singapore, and RioStox are one step closer to becoming Travel Rule compliant in Singapore and Hong Kong.
- Notabene sets up regular collaborative Travel Rule test environments for crypto exchanges and financial institutions to test sending and receiving regulated transactions.