Streamline Counterparty Verification with Notabene: The Bank-Grade Solution for Financial Institutions and VASPs.
VASPs in our Open Network
Identify & screen all counterparties
Perform VASP due diligence & assess risk
Exchange travel rule information
Automate TX flow and analyse insights
SafeGateway streamlines interactions across networks for Notabene in-network VASPs.
Here's a quick overview:
- Access Request: VASPs apply for access credentials for desired protocols.
- Protocol Integration: Approved VASPs add the protocol access code to their gateway.
- Initiating Transfers: For Travel Rule data transfers to other network VASPs, SafeGateway auto-selects the correct protocol.
- Data Routing: SafeGateway directs the transfer data via a protocol client to the target network.
- Transaction Processing: Completed transactions are returned to the originating VASP through SafeGateway.
- Transfer Management: VASPs oversee and manage transfers on SafeTransact’s Travel Rule compliance dashboard.
Open Networks vs. Closed Networks in Travel Rule Compliance
The Role of Open Networks
Open networks are pivotal for the industry. Open networks provide unprecedented reachability and interoperability, allowing transactions with a broad range of VASPs while maintaining consistent compliance measures.
The Limitations of Closed Networks
Closed networks limit VASP interactions due to their lengthy vetting processes and often have compliance setups that may not align with FATF standards, like the recommendation for VASPs to independently conduct counterparty due diligence. Such restrictions to transact only within the network can result in delays and complicate compliance efforts.
SafeGateway represents a significant leap towards solving the interoperability challenge in the crypto compliance landscape. With our multi-protocol support and streamlined compliance management, we ensure that your focus remains on growing your business securely and efficiently.
"As the world embraces the rapid advancement of Web3 and digital assets, we need to ensure our solutions strike a balance between regulatory compliance and the inherent agility of this fast-paced technology sector. By partnering with industry-leading digital asset compliance solutions like Notabene, we are empowering our customers to navigate complex compliance requirements across multiple jurisdictions with ease."
Jason P. Allegrante
Chief Legal & Compliance Officer, Fireblocks.
- Cloud and Infrastructure best security practices
- Realtime Security Vulnerability Checks before code release
- All sensitive data is encrypted, at rest and in transport, using battle-tested encryption schemas
- Multiple regions for data storage are available. Full physical data segregation is available for Enterprise customers
- SafePII. The industry’s only escrowed exchange of encrypted PII
- Compliant with EU GDPR, Singapore PDPA
- Plug-and-play Travel Rule end-user data consent component
- 24/7 uptime
- Configurable enterprise SLA
- SOC2 Type II compliant
- Enterprise-ready authentication mechanisms available
Hosting these gateways within the VASP's own infrastructure, such as a data center or cloud account, is advised for optimal security. This approach, particularly when using an enclave server, allows for enhanced security measures, aligning with the principle that control over the hosting environment can significantly bolster security.