CODE is a proprietary data exchange protocol developed by CODE, a Korean provider of specialized Travel Rule services for VASPs founded by the leading local virtual asset exchanges, Bethumb, Coinone, and Korbit.

Created by virtual asset exchanges, CODE is rooted in a thorough understanding of the challenges encountered by VASPs. CODE ensures that data is transmitted securely, protecting sensitive information during the exchange process.

How CODE protocol works

Sumsub utilizes CODE as a bridge that verifies and delivers information about the beneficiary VASP/wallet address and authorizes Travel Rule data exchange transactions via the API. During the procedure, all the data that is shared by VASPs is encoded by the secure encryption algorithm (XSalsa20).

CODE protocol is applied only for the Pre-Travel Rule, Post-Transaction flow, i.e. before-on-chain verification. This step allows Sumsub to verify a Travel Rule data exchange transaction before executing the actual on-chain transaction in order to prevent unnecessary exchange of user information.

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Note

To use CODE within Sumsub, VASPs will have to complete the Sumsub VASP Due Diligence requirements.