OpenVASP Association

The OpenVasp initiative has been launched in November 2019 by Bitcoin Suisse, Lykke, Seba Bank, Sygnum, Avaloq and MME, with the support of the Crypto Valley Association (CVA) and the International Digital Asset Exchange Association (IDAXA). The aim of the initiative is to help the crypto industry to comply with the travel rule by creating a solution for the industry from the industry. It started as a working group and since March 27th, 2020 has been incorporated in Zug as an Association. The goal is to build up an open and decentralized protocol as proposed in the OpenVASP whitepaper, a SWIFT like messaging system designed specifically for crypto. It seeks to provide a clear picture of FATF compliance based on an open-source protocol allowing for secure communication of sender and beneficiary information for crypto-asset transactions between VASPs. The OpenVASP protocol is a decentralized protocol with full encryption of personal data which preserves and protects the “anonymity” of clients data. It is designed to be technology-agnostic, fully decentralized and extensible so that it may be adopted broadly by VASPs of all sizes using multiple implementations and at minimal cost. Please reach out if you would like to know more on how to become a member.