Coinbase-Backed TRUST Coalition Expands Into Europe

The Travel Rule Universal Solution Technology (TRUST), a cryptocurrency anti-money laundering (AML) initiative funded by Coinbase, has expanded into Europe.

TRUST, founded in the United States by Coinbase with assistance from BitGo, Gemini, Kraken, and Fidelity, announced earlier this year that it had developed a presence in Canada and Singapore. According to a news release, its membership has risen to 67 enterprises as part of its European expansion.

TRUST launched in early 2022. Since then, the coalition has also grown to include virtual asset service providers (VASPs) throughout Europe. Its rapid expansion throughout Europe marks a significant milestone in the journey to become the industry-standard solution for Travel Rule compliance.

TRUST was designed to be a worldwide Travel Rule compliance solution. While the criteria for the Travel Rule vary by country, the coalition is specially intended to adapt to these diverse needs while providing top-tier safeguards for clients’ privacy and security, such as no central store of personal data, proof of address ownership, core security & privacy standards.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News