Sumsub has built an ecosystem that helps VASPs carry out counterparty VASP verification, which is required under the FATF and national legislation, and facilitates Travel Rule data sharing.

The Sumsub Travel Rule ecosystem is a community of VASPs (Sumsub clients, its partners' clients, or client counterparties) that have successfully passed the VASP Due Diligence process and are purported to facilitate the sharing data related to VA transfers between VASPs and carry out identification and verification of counterparty VASPs to comply with the Travel Rule requirements.

How to join Sumsub ecosystem

A company can become a participant of the Travel Rule ecosystem by one of the following means:

• The company accepts the Travel Rule ecosystem agreement and initiates the VASP Due Diligence process via the Dashboard by selecting the respective checkbox.
• The company accepts the Travel Rule agreement, as described in the Travel Rule ecosystem agreement.
• The company concludes a service provider agreement (SPA) that includes the Sumsub Travel Rule solution as a service, so long as the SPA contains a reference to the Travel Rule ecosystem agreement.

Benefits for ecosystem members

Depending on the selected participation level and scenario, the participant will receive all or part of the following benefits:

• Access to information about other participants in the ecosystem.
• Increased credibility among VASPs transacting on behalf of their customers.
• Little risk of reduced volumes of transactions due to uncertainty about your VASP from counterparty VASPs required to comply with Travel Rule.
• Familiarisation for your compliance teams about Travel Rule processes, nuances, and operations, even if you do not have to comply yet.
• Visibility from Sumsub in co-marketing efforts or joint activities in the cryptocurrency space.
• Exchanging transaction data with other participants via the Dashboard and integrated messaging protocols.
• Access to various additional materials and documentation, including technical documentation, white papers, manuals, descriptions, instructions, legal research, and so on.
• Special invitations to events, webinars, and other activities related to the crypto industry and dedicated areas.
• Access to marketing materials and news in compliance via direct links, email sendouts, and other channels.
• Product testing opportunities (if available).