Sumsub’s Travel Rule SDK is available for seamless app integration, automating required checks and ensuring compliance without losing users.
Verification platform Sumsub announced its Travel Rule SDK solution which is now available for crypto, fintech, and iGaming businesses.
The Travel Rule SDK is designed to be easily incorporated directly into client apps, enabling
companies to automate compliance checks and verify sender/recipient information in real
time to ensure Travel Rule compliance.
The Travel Rule requires VASPs to share originator and beneficiary data on crypto transactions. With more countries enforcing the Travel Rule each year, it is continually becoming an obligatory part of virtual asset transfers.
Sumsub’s Travel Rule SDK includes key benefits such as a flexible and fully customisable workflow, collection of additional data during deposits, withdrawals and transfers, and real-time transaction updates.
“While Travel Rule compliance logic is complex, failure to adhere to the regulation is associated with high reputational, legal and financial risks. Sumsub offers flexible integration options–SDK, API and protocols–built to simplify Travel Rule compliance programs for VASPs and other regulated entities engaged in crypto transfers,” explains Andrew Novoselsky, CPO at Sumsub.
