Originator VASP
An originator VASP is an entity that sends funds or benefits from the originator customer or a customer’s self-hosted wallet to the beneficiary customer.
Per the Financial Action Task Force's (FATF) Travel Rule, the originator VASP is responsible for:
Submitting the necessary originator data to the beneficiary VASP. This data needs to be verified as part of the originator VASP’s customer due diligence process.
Submitting the necessary beneficiary data to the beneficiary VASP.
Obtaining the necessary originator data and maintaining a record thereof.
Screening the beneficiary to confirm that the beneficiary is not a sanctioned name.
Monitoring the transaction and reporting it should it raise any suspicions.