Singapore, New York – Luno, a leading global cryptocurrency company based in London with over 7 million customers in 40 countries, has partnered with Notabene, the end-to-end Travel Rule compliance platform. With Notabene’s help, Luno is rolling out Travel Rule compliance starting with Singapore.
Luno is using Notabene’s services to manage counterparty risks related to crypto transactions and to meet the latest anti-money laundering (AML) requirements as defined in Singapore’s Payment Services Act 2019 (the PSA). By integrating our solution, the Luno team can now perform Travel Rule transactions securely and at scale.
As consumer demand for cryptocurrency grows across global markets, regulators are introducing requirements to protect consumers and mitigate the risk of money laundering. One of these requirements is the Travel Rule, and it requires that cryptocurrency platforms like Luno share customer data related to a crypto transaction securely with the counterpart exchange.
Besides regulatory compliance, Luno believes that the Travel Rule can promote customer confidence in crypto transactions. When customers are requested to input information about recipients and checks are performed, the risk of a transaction going to the wrong recipient decreases.
Notabene’s solution helps Luno’s team manage counterparty risks. With our rule-setting tools and due diligence service, their compliance officers can now automate the transfers of Travel Rule data with trusted exchanges.
Sherry Goh, Country Manager of Luno Singapore, says:
“We are delighted to partner with Notabene for Luno’s Travel Rule roll out in Singapore. We were impressed with Notabene’s protocol agnostic approach and the decision to build a platform aimed at end-to-end compliance with the Travel Rule. We are confident that the integration with Notabene will mean that our customers’ Luno experience will remain as smooth as ever.”
Pelle Braendgaard, CEO of Notabene, comments:
“With Luno’s continued commitment to compliance, it has brought safe crypto products to millions of consumers worldwide. We are excited to see how our product can help Luno continue on their mission to upgrade the world to a better financial system.”
Luno is also a participant in Notabene’s recently launched Singapore testnet. It is testing travel rule transfers alongside other cryptocurrency platforms.
Are you interested in learning more about our travel rule solution and how we help with managing counterparty risk? Reach out to us at email@example.com.
Alice Nawfal: firstname.lastname@example.org
Notabene helps crypto businesses manage regulatory and counterparty risks around transactions. Notabene provides software, tools, and comprehensive data that helps their customers implement the new requirements of the FATF guidelines including the Travel Rule and identification of virtual asset accounts.
Notabene is a Y Combinator company and has offices in New York, Zürich, and Santiago de Chile.
Find out more here: https://www.notabene.id
Luno is a leading global cryptocurrency company on a mission to upgrade the world to a better financial system.
Co-founded by CEO Marcus Swanepoel and CTO Timothy Stranex, Luno launched in 2013 and has built a team of nearly 400 with its headquarters in London with regional hubs in Singapore and Cape Town. With over 7 million customers spanning in over 40 countries, Luno’s products and services make it safe and easy to buy, sell, store and learn about cryptocurrencies like Bitcoin and Ethereum.
Luno has been backed by some of the world’s leading investors including Balderton Capital, RMI, Naspers and Venturra, before recently having been acquired by Digital Currency Group (DCG).
Find out more here: https://www.luno.com