Fireblocks, a digital asset custody and transfer platform, has recently announced the launch of its compliance solutions suite, which includes integration with Notabene’s travel rule solution. The suite is designed to help clients meet regulatory requirements and simplify compliance processes.

One of the critical features of the compliance solutions suite is the integration with Notabene’s travel rule solution. The travel rule is a regulatory requirement that mandates virtual asset service providers (VASPs) to collect and share certain customer information, such as names and addresses, when transferring funds between each other. The solution aims to prevent money laundering and terrorist financing.

Fireblocks’ integration with Notabene’s travel rule solution automates the compliance process and ensures customer information is securely collected and shared with other VASPs in real-time. This integration allows Fireblocks’ clients to comply with the travel rule without having to dedicate additional resources to manual compliance processes.

In addition to the travel rule integration, Fireblocks’ compliance solutions suite includes other features to help clients meet regulatory requirements. For example, it provides comprehensive monitoring of client transactions and can flag any suspicious activity for further review. It also includes automated risk assessments, which can help clients identify and mitigate potential compliance risks.

The compliance solutions suite is a welcome addition to Fireblocks’ platform, which already offers secure custody and transfer services for digital assets. By adding compliance solutions to its offering, Fireblocks is further positioning itself as a comprehensive solution for digital asset management.

Pelle BraendGaard, CEO of Notabene, said, “We are excited to partner with Fireblocks to offer the first fully integrated solution between custody and the Travel Rule. The integration ensures that all transactions going to and from Fireblocks are compliant by tying compliance decisions to settlement. With Notabene, users can identify and stop high-risk activity such as laundering of proceeds from exchange or DeFi hacks before it settles with Fireblocks.”

Fireblocks’ compliance solutions suite is available to all platform clients, including exchanges, custodians, and institutional investors. With this suite, Fireblocks aims to simplify compliance processes and help its clients navigate the complex regulatory landscape of digital assets.

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• Source: https://financefeeds.com/fireblocks-launches-compliance-solutions-suite-with-notabenes-travel-rule-integration/