Liminal will be integrating Notabene’s Travel Rule technology into its custody solution to provide a complete solution to the market
Liminal, a digital wallet infrastructure platform, recently announced its partnership with crypto compliance SaaS Notabene to provide their customers with a secure
and reliable way to manage their digital assets.
As part of the partnership, Liminal will integrate Notabene’s SaaS compliance solutions that will provide the former with a plug-and-play Travel Rule solution on its platform. Under this collaboration, Liminal’s clients would create profiles in Notabene’s Virtual Asset Service Provider (VASP) network, where they can also participate in online product training sessions.
The travel rule is a set of guidelines published in 2019 by the Financial Action Task Force (FATF), and is primary goal is to combat terrorist financing and other illegal activity which might be taking place through the use of cryptocurrencies. The legal guidelines of the rule require cryptocurrency exchanges in FATF member countries to share information about their customers for transfers above US$1,000 as part of the compliance process regarding know-your-customer (KYC) and anti-money laundering (AML) regulations.
Manan Vora, SVP of Strategy & Operations at Liminal, said, “Liminal and Notabene are committed to making digital asset transactions more secure and compliant. With this partnership, we are taking a significant step towards achieving this goal. The integrated solution will help to ensure that the cryptocurrency market remains compliant and secure for all users.”
The collaboration will leverage on Liminal’s blockchain platform for secure digital asset management, while Notabene’s compliance technology ensures that all transactions comply with the FATF travel rule requirements.
As countries begin to embark on stricter regulations surrounding the transaction of cryptocurrencies in the wake of the FTX exchange collapse last year, the partnership will benefit Liminal’s clients in reducing the risk of running afoul future regulatory laws, while providing users with a secure and reliable way to manage their digital assets.
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