June’s VASP Directory Report is filled with exciting updates. Before you hop in, be sure to check out our mission and vision and learn more about Notabene.
At Notabene, we’re on a mission to make crypto transactions a part of the everyday economy. Our market-leading solution allows financial institutions to manage regulatory and counterparty risk in crypto transactions—creating the last needed connection between the traditional financial industry and the crypto industry. Financial institutions and crypto exchanges use our first-to-market FATF Travel Rule solution to identify virtual asset accounts, perform mandated VASP due diligence, and manage regulatory and counterparty risks from one holistic dashboard.
In June, we saw a 12% increase in VASPs signed up in the directory to a total of 898 VASPs. The number of in-network VASPs, actively managing their accounts increased by another 12%. SuperVASPs increased by 8.8% in June. Activity window: May 25-June 25. Find more details below.
Continued activity through the industry downturn
Although the total value of all cryptocurrencies on the market has recently dropped below $1 trillion, down from $3 trillion in November 2021, taking transaction volume down with it, we’re noticing very little impact on growth and activity in Notabene’s directory. Industry players are taking this downtime to ramp up their compliance journeys and strengthen their compliance stack.
Additionally, Estonia’s enforcement date recently passed on June 15th, prompting a record number of Estonian VASPs to sign up to the directory, and become SuperVASPs (verified profile, claimed, and in-network) in record time. This region-specific uptake shows that VASPs will turn to the most accessible place to comply when the pressure is on.
VASP Directory Activity
Notabene provides its customers and crypto companies widely with a directory to build verified business profiles, share metrics around Travel Rule adoption, and 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.
1. 898 VASPs are in the directory, and 224 have earned in-network badges
The number of VASPs who actively manage their profiles has grown by 12% since May to 224 VASPs indicating that even during a downturn in the market, companies continue to invest in their compliance stack and focus on Travel Rule adoption. VASPs with “In-Network,” badges have an active administrator and will be responsive to incoming Travel Rule data transactions.
2. Originator VASPs have sent transactions to 138 Beneficiary VASPs in June
This month, Originator VASPs have sent Travel Rule data transfers to a record number of 138 Beneficiary VASPs. As Originator VASPs ramp up transfers to their counterparties, Beneficiary VASPs can now subscribe to Notabene’s Sunrise Plan and respond to incoming transfers for free.
3. Both retail and institutional VASPs have joined the Notabene directory in the last 30 days.
Notable new VASP profiles include:
- Bitstamp Europe S.A.
- Cross River Bank
- Hash Blockchain Limited
- Eurogroup technologies OU
- The Merkle Group
- Great South Gate Asset Management
4. Eighty-three companies have received a SuperVASP badge.
Since May, the number of SuperVASPs has increased by 8.8% to 83 companies. A "SuperVASP" badge indicates company profiles that are:
Join in on the action! Sign up for a VASP Directory profile today.