VerifyVASP Becomes GLEIF Validation Agent to Increase Transparency in Crypto and Digital Asset Trading Markets

The inclusion of client LEIs in VerifyVASP’s decentralized messaging service, assisted by its new Validation Agent role, delivers early FATF Travel Rule compliance for Virtual Asset Service Providers

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The Global Legal Entity Identifier Foundation (GLEIF) today announces that VerifyVASP, a Singapore-based RegTech solution provider to Virtual Asset Service Providers (VASPs), has joined the Global LEI System as a Validation Agent.

VerifyVASP is the first Validation Agent to operate exclusively in the crypto and digital asset trading space. By assuming the role, VerifyVASP can now help obtain Legal Entity Identifiers (LEIs) for its VASP clients quickly and efficiently. VerifyVASP can then incorporate its clients’ LEIs into its decentralized messaging service to provide the verified entity identification data needed for easy and early compliance with current and anticipated regulatory requirements, including the Financial Action Task Force’s (FATF) Travel Rule. The net result is a new level of trading entity transparency in crypto and virtual assets that reaches across borders and jurisdictions.

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