Affordable Travel Rule Compliance: A Must for Smaller VASPs

The crypto Travel Rule aims to curb the misuse of digital assets by requiring the exchange of customer data when transacting. While simple in concept, implementing it is far from straightforward, specifically for smaller virtual asset service providers (VASPs). 

Licensing, implementing a Travel Rule solution, and maintaining a seamless customer experience can be expensive and resource-intensive for some VASPs.

This creates a challenge for smaller businesses: how to stay compliant without running at a loss. 

Below, we tackle this conundrum and provide a solution for how smaller VASPs can remain compliant without breaking the bank while keeping their customers happy. 

Compete, Comply and Keep Your Customers Happy 

Remain Competitive with 21 Analytics

Irrespective of location, smaller VASPs have a harder time competing with bigger and better-funded competitors. Customers naturally gravitate towards large, well-known VASPS, and staying connected to these bigger players can come at a cost.

We understand that every penny counts. That is why our pricing is transparent. A standard flat rate that includes 

• Unlimited VASP-to-VASP and VASP-to-self-hosted wallet transactions;

• Self-hosted wallet verification in 1 click; 

• Zero onboarding fees. 

Furthermore, integration is quick and painless: our Travel Rule solution can be up and running in 1 hour. 

Comply with the Travel Rule with 21 Analytics

VASPs must meet regulatory requirements in their local jurisdiction; to comply, VASPs need a Travel Rule solution. Ideally, this solution should be dependable, with no downtime that could cost you potential customers and their transactions, and be easy to maintain.   

This is why 21 Analytics’ Travel Rule solution is the ideal Travel Rule solution for you. 

It was not built according to a specific framework but to the FATF’s Travel Rule; that is, it is flexible to global implementations of the Travel Rule, ensuring VASPs remain compliant regardless of location. 

Moreover, you won't need separate solutions; 21 Analytics covers it all: over 540 self-hosted wallets and more than 2800 digital assets supported, built-in VASP discovery, and integrated blockchain analytics support from Chainalysis, Beosin, Crystal, Global Ledger, and Merkle Science. 

21 Analytics offers VASPs everything they need to comply with the Travel Rule without added complexity or costs. 

Keep your Customers Happy with 21 Analytics

Even with full compliance and a leading Travel Rule solution in place, it is essential to ensure that the customer experience remains seamless and efficient.

Your customers shouldn’t have to navigate compliance; 21 Analytics’ Travel Rule solution ensures this. Moreover, our team comprises crypto users and compliance experts, who understand the challenges faced by both VASPs and their clients. That insight guided the design of our solution, AOPP, ensuring it is straightforward and user-friendly.

AOPP offers your customers a swift and frictionless user experience. It also provides VASPs with automated and fast wallet proof, which no other self-hosted wallet verification method can match. Compliance teams do not need to perform any manual checks.

What’s the Bottom Line? 

With 21 Analytics, Travel Rule compliance is easy and fast. The team is efficient, support and onboarding are quick, and we offer transparent pricing with no lock-in or endless negotiations. 

Our product grows with you with no hidden or extra costs. With us, compliance is seamless.

Are you interested in learning more about our product and how we can tailor our offering to your needs? Request a demo today.