If the originator VASP is not interoperable with Sygna protocol, we provide an email protocol for them to exchange the Travel Rule required information.
- Once receives the blockchain transaction, VASP can identify whether Travel Rule data is exchanged with the specific transaction ID or hash with our Beneficiary/TransactionID service.
- If no data is exchanged before, VASPs need to freeze the crediting process.
- By using Bridge/Wallet Address Filter, VASPs can confirm the wallet address belongs to a non-interoperable VASP. The originator VASP email and regulatory information will be provided by Sygna.
- VASPs can use the Sygna provided software, Sygna Hub to generate and send an email to the non-interoperable VASP.
- The non-interoperable VASP can reply with the Travel Rule information of their originator user by putting the information in a form through the email link.
- Sygna Hub software translates the form information into a machine-readable format and provides it to Sygna VASP automatically.
- Put the information into compliance check, including blockchain analysis and sanction name screening.
- If the transaction is under certain risk, credit the balance to the beneficiary.
Updated over 2 years ago