OpenVASP Releases InterVASP Messaging Standard Validator Developed by 21 Analytics
The InterVASP Messaging Standard (IVMS) is a standard data model for virtual asset service providers (VASPs) to transmit the Financial Action Task Force (FATF) Travel Rule required information, such as originator and beneficiary details. The standard has been a big step in guaranteeing the worldwide ability of VASPs to transfer data between each other, as explained in our blog post.
To ensure compatibility of the different IVMS implementations from Travel Rule solution providers, the OpenVASP Association and 21 Analytics built the InterVASP Messaging Standard Validator. This free online tool allows anyone to check if their data is compatible with the IVMS101-standard. With a straightforward user experience, you can quickly paste IVMS data and check if it is compliant with the standard.
Like all software solutions built by 21 Analytics, the IVMS validator does not store the entered data, protecting possible sensitive material. When the user pastes the information, the tool automatically informs if there are errors, where they are and what is incorrect, as exemplified below.
The Future of the Ecosystem
The validator is another contribution from the OpenVASP Association to an open ecosystem for cryptocurrency compliance. It supports the Travel Rule development, powering adoption of the FATF Recommendation. At 21 Analytics, we are proud to be OpenVASP’s technology partner responsible for the technical implementation of the IVMS validator tool.
To make sure you are compatible with the IVMS 101 interVASP Messaging Standard, no matter which Travel Rule standard you’ve implemented, test your data here.