Alchemy Pay Adopts Sumsub’s Travel Rule Solution as Crypto Oversight Tightens
Alchemy Pay has partnered with verification provider Sumsub to integrate its Travel Rule solution across its platform, aiming to bolster compliance as regulatory scrutiny of cryptocurrency transactions grows.
The Travel Rule requires virtual asset service providers to share information on transaction originators and beneficiaries, aligning crypto transfers with standards used in traditional finance.
The measure is intended to improve transparency and curb money laundering and terrorist financing.
With the integration, Alchemy Pay will use Sumsub’s infrastructure to automate secure data exchange with more than 1,800 counterparties connected to networks such as…
