Sygna Bridge (or Sygna Protocol) is a secure data exchange solution that enables VASPs to share all required transmittal compliance data privately. This article covers considerations when choosing Sygna Bridge as a Travel Rule messaging protocol provider.
Sygna Bridge establishes a privacy-secure tunnel for VASPs to share FATF R.16-required originator and beneficiary transmittal information, supporting all compliant virtual assets.
Sygna Bridge’s alliance network of trusted VASPs can share obligatory Personally Identifiable Information (PII) with transaction counterparts without compromising user privacy or safety.
After passing a compliance check, Sygna issues each VASP a unique identity shortcode, which helps exchanges:
The process is automated, and every message sent between VASPs is paired with a corresponding signature to ensure data integrity.
Sygna Protocol is a closed network. Any VASP can join if it meets specific criteria.
Sygna Bridge is a fully integrated Travel Rule solution provider.
There are significant changes to the front-end and back-end to integrate Sygna.
Sygna Bridge relies on many VASPs signing up for their solution and sending travel rule messages to each other.
As a closed solution, a single body governs Sygna Bridge.
Sygna Bridge does not support communication with non-custodial wallets.
Sygna Bridge is live and in production.
Sygna Bridge has a good response from regulators, alongside excellent initial support from VASPs located in Asia.
The membership fee structure is unknown.
Notabene plans to integrate Sygna Bridge in 2022.
A simple API architecture and standards
Secure privacy design
Broad asset coverage
Closed network solution
There has been no mention of a Sygna Bridge testnet. However, developers can send test transactions to Sygna’s Robot VASP.
Due to many unknowns, we cannot create a proper list of implementation to-dos. We will update this page when we have a better picture.
Sygna | Bridge API