In July, we saw a 7.6% increase in VASPs signed up in the directory to 966 VASPs. The number of in-network VASPs, actively managing their accounts increased by 7% to a total of 240 VASPs. SuperVASPs increased by 13.25% to a total of 94. Activity window: June 25-July 25.
A few months ago, the Estonian regulator, the Ministry of Finance’s Financial Intelligence Unit (FIU), enacted the Travel Rule on March 15, 2022, soon after the start of the Russian-Ukrainian War, with enforcement three months later, on June 15, 2022, the shortest turnaround in history. In order to help our customers navigate sanctions and for better visibility, we’ve added 30+ Russian VASPs so our customers can automatically restrict transactions with them using our rules engine.
VASP Directory Activity
Notabene’s global VASP directory aggregates verified business profiles where clients perform counterparty due diligence to establish trusted bilateral relationships. Directory data is available to any VASP that signs up for Notabene as a paid customer or as part of the free Sunrise Plan.
Below, we share some highlights from July.
1. 966 VASPs are in the directory, and 240 have earned in-network badges
The number of VASPs actively managing their profiles has grown 7.14% since June to 240 VASPs. VASPs with “In-Network” badges have an active administrator and are able to send or receive travel rule transfers.
2. Originator VASPs have sent transactions to 140 Beneficiary VASPs in July
This month, Originator VASPs have sent Travel Rule data transfers to a record number of 148 Beneficiary VASPs. As Originator VASPs ramp up transfers to their counterparties, Beneficiary VASPs can now subscribe to Notabene’s Sunrise Plan and respond to unlimited incoming transfers for free.
3. We’ve added 30+ Russian VASPs to help with VASP identification
With the onset of global sanctions against certain businesses in Russia, we’ve added a list of over 30 Russian VASPs to help our customers with VASP identification and possible blocking of transactions. Russian VASPs exhibit “Russian Federation” as their jurisdiction. From there, Notabene users could set rules in their Rules Engine to automatically review or block transactions going to certain VASPs
Learn how Notabene customers can block transactions to sanctioned individuals today.
4. Ninety-four companies have received a SuperVASP badge.
Since June, the number of SuperVASPs has increased by 13.25% to 94 companies. A "SuperVASP" badge indicates company profiles that are:
Notable new SuperVASPs: