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TRISA & Ospree Announce Full Interoperability for Travel Rule Solutions

TRISA, a pioneer in decentralized information sharing for Virtual Asset Service Providers (VASPs), and Ospree, a leading digital asset compliance platform are excited to announce full interoperability between their respective Travel Rule solutions. Seamlessly integrating Ospree and TRISA’s technologies empowers payment networks, exchanges, over-the-counter trading desks, cryptocurrency ATMs, and other blockchain enterprises with new capabilities, including: 

  • Automation of compliance processes, which can reduce operational costs and complexity. 
  • Support for Travel Rule protocols such as TRISA and TRP to facilitate crypto transfers with minimal technical constraints. 
  • Consistent and standardized data formatting by adopting the IVMS101 standard.

This collaboration streamlines transactions within the digital asset landscape and sets a new standard for regulatory compliance, making it easier than ever for crypto businesses to stay ahead in a rapidly evolving market.

TRISA is committed to fostering a robust and compliant digital asset ecosystem. Our partnership with Ospree exemplifies this commitment. By collaborating with market innovators like Ospree, we can ensure seamless interoperability for Travel Rule solutions, empowering VASPs to navigate regulatory requirements efficiently. – Benjamin Bengfort, PhD, TRISA Board member.

Understanding the Travel Rule

The Travel Rule, or Financial Action Task Force (FATF) Recommendation 16, is a cornerstone guideline designed to combat money laundering and terrorist financing (AML/CFT), initially applied to traditional finance and later extended to digital assets. This recommendation encourages jurisdictions worldwide to require VASPs to collect and share essential information about both the originator and beneficiary when executing a financial transaction. Today, the Travel Rule is a foundational aspect of regulatory frameworks in key global markets such as the United States (USA), European Union (EU), United Arab Emirates (UAE), United Kingdom (UK), Japan, Singapore, and Hong Kong. Its implementation helps ensure the transparency of the digital asset landscape and safeguards against cross-border illicit activities.

Why Compliance Matters

As the virtual asset industry expands, compliance with global standards becomes crucial not just for legal reasons but also for ensuring business scalability and sustainability. This is particularly pertinent given the significant regulatory developments in 2024/25. Key among these is the enforcement of the Markets in Crypto-Assets (MiCA) framework and amended Transfer of Funds regulation within the European Union.

These existing regulations, along with those forthcoming in numerous jurisdictions, are set to redefine the landscape of cross-border and local digital asset transactions. It is imperative for businesses to implement compliance solutions to meet legal requirements and enhance trust and stability in the market.

Ospree’s platform is built on a modular “Lego System” architecture, empowering businesses to construct tailored solutions that align with their unique local requirements. This technical integration with TRISA simplifies compliance, ensuring seamless interoperability for VASPs operating in multiple jurisdictions — Javier Tamashiro, CEO of Ospree.

Interoperability is Essential for Compliance

Interoperability—the ability of various systems, platforms, and applications to work together seamlessly—is indispensable in the context of the Travel Rule. For VASPs, this capability enables the secure and efficient exchange of information across different technologies, systems, and protocols. Ospree and TRISA present a unified approach to compliance by ensuring interoperability and eliminating compatibility issues while maintaining the highest security standards.

With interoperable Travel Rule solutions, VASPs can simplify the process of meeting regulatory demands while enhancing operational efficiency and significantly improving the overall user experience. This allows them to deliver more reliable and user-friendly services essential in today’s fast-evolving digital asset landscape. 

About Ospree

Ospree is a Software-as-a-Service (SaaS) cloud platform that offers powerful, integrated B2B solutions to create full-stack compliance ecosystems in just a few steps and without technical complications. The company serves customers in the digital asset industry across the Americas, Asia, and the EMEA region, enabling teams to comply with complex anti-money laundering and counter-terrorism Financing (AML/CFT) requirements at both global and local levels. The platform provides various modules to automate and orchestrate compliance processes, including Travel Rule, Blockchain Analytics, and Reporting. Ospree is backed by Ripple and Techstars.

About TRISA 

TRISA (Travel Rule Information Sharing Architecture) is an open-source framework designed to assist Virtual Asset Service Providers (VASPs) to securely and efficiently comply with the Travel Rule. It ensures interoperability with various protocols, supports straightforward integration with backend systems and employs a decentralized, peer-to-peer design to bolster resilience against cyber threats.

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