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Matrixport Integrates Notabene Travel Rule Compliance Solution

Alice Nawfal
Alice Nawfal
November 15, 2022
Alice Nawfal, with a rich background in blockchain, public policy, and consulting, leverages her extensive experience in business operations and analytics to drive Notabene's growth and operational efficiency.
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Summary

NEW YORK, NY AND SINGAPORE  - Matrixport, one of the world's largest digital assets financial services ecosystems, today announced a partnership with Notabene to implement a protocol-agnostic, end-to-end solution for global Travel Rule compliance. This partnership follows a recently completed Notabene-led testnet and will be implemented in phases, starting with fund flows to and from Hong Kong and Singapore before extending beyond. 

Notabene’s solution provides for automating Matrixport’s counterparty due diligence via risk-based rules to instantly identify and verify business partners, while incorporating country specific Travel Rule compliance standards for anti-money laundering (AML) and counter terrorist financing (CTF). Additionally, personally identifiable information (PII) is safeguarded with the use of SafePII, Notabene’s privacy-preserving technology which significantly minimizes the risk of data loss through hacks or breaches. 

When completed, the integration allows Matrixport to align and comply with the Monetary Authority of Singapore’s (‘MAS’) requirement for crypto Travel Rule, incorporated under the Payment Services Act (Notice PSN02). 

Christopher Liu, Chief Compliance Officer at Matrixport, said “Compliance is a cornerstone of Matrixport’s robust institutional risk management protocols. We are committed to implementing the highest standards and Notabene’s technology enables operational efficiency while ensuring end-to-end compliance with FATF’s Travel Rule and the MAS Payment Services Act. Our compliance roadmap is designed to provide our clients with best-in-class support to enhance secure, transparent and efficient digital asset services.” 

“At Notabene, it is our mission to continuously elevate the level of privacy and security consumers need for their PII and it is a pleasure to partner with VASPs that not only seek to comply with regulations as they unfold, but also to protect their users’ data to the highest standards available for these transactions,” said Pelle Brændgaard, CEO of Notabene. “Matrixport is an excellent example of a market-leading digital assets platform turning regulatory compliance into a competitive advantage.  We are proud to continue to support them in evolving their regtech strategies as VASPs around the world work towards compliance with new and evolving regulatory frameworks.” 

The Crypto Travel Rule, an anti-money-laundering regulation introduced in 2019 by the Financial Action Task Force (FATF), mandates VASPs to disclose, collect, screen, and transmit customer personally identifiable information (PII) when transacting in crypto asset amounts over a particular threshold. The Monetary Authority of Singapore (MAS) has incorporated the Travel Rule as part of its Payment Services Act.

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About Notabene 

Notabene is a reg-tech SaaS solution that turns regulatory compliance into a competitive advantage. Notabene is working to make crypto transactions a part of the everyday economy by providing software, tools, and comprehensive data to manage regulatory and counterparty risks in crypto transactions. Companies leverage our end-to-end FATF Travel Rule solution to identify virtual asset accounts, perform mandated VASP due diligence, and manage global transactions from one dashboard. Trusted by leading exchanges, Luno, Bitso, Crypto.com, and more. Notabene is headquartered in New York with offices in Zug and Santiago de Chile. Download a copy of Notabene’s State of Crypto Travel Rule Compliance Report. To learn more, visit www.notabene.id. Follow us on LinkedIn and Twitter

About Matrixport 

Matrixport is one of the world's largest and most trusted digital assets financial services ecosystem. The company's services include prime brokerage, Cactus Custody™, spot OTC, fixed income, structured products, lending as well as asset management. Headquartered in Singapore, Matrixport serves individuals as well as over 500 institutions across Asia and Europe. Visit www.matrixport.com for more information.

 

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