About

OpenVASP is a non-profit members association that develops open- and permissionless standards and tools for VASPs. The association's core standard is TRP, the Travel Rule Protocol, a fully decentralised solution for the FATF Travel Rule. OpenVASP was launched in November 2019.

The OpenVASP Association has the objective of establishing and maintaining an open protocol for the transmission of transaction information between Virtual Asset Service Providers (VASPs) and other parties. Its particular goal is to facilitate robust compliance with Recommendation 16 of the Financial Action Task Force (FATF), commonly referred to as the “Travel Rule.” The OpenVASP Association is dedicated to advancing TRP and its ecosystem based on the needs and requirements of its members. The association was established by founding members Bitcoin Suisse, Lykke, Seba Bank, Sygnum, Avaloq and MME, with the support of the Crypto Valley Association, IDAXA and ACCESS Singapore.

The role of the OpenVASP Association

The OpenVASP Association is a non-profit organization based on the approach “from the industry, for the industry,” focusing on the following tasks:

• Maintaining and advancing TRP as a crypto-financial messaging standard among VASPs, based on the needs and requirements of its members.

• Providing shared resources for VASPs using the protocol, such as development tools or standard terms/contracts.

• Providing a common contact point for regulators and supranational organizations.

• Fostering an ecosystem of commercial and non-commercial partners supporting VASPs using the protocol.

The Association is directed by the General Assembly of its members, which is held at least annually. All governance rules are outlined in the Articles of Association.