TRP vs TRUST: Comparing Two Approaches to Travel Rule Compliance
For virtual asset service providers (VASPs), keeping up with the FATF Travel Rule is a top priority. This requirement obliges VASPs to exchange key originator and beneficiary details during certain transactions, all while keeping customer data secure.
Two well-known approaches are possible to meet this challenge: the Travel Rule Protocol (TRP) and TRUST (Travel Rule Universal Solution Technology). Both are widely adopted, effective, and surprising in their similarities.
Below, we explore what they have in common, where they differ, and how they help VASPs achieve compliance.
Enabling Interoperability
The FATF has underlined the importance of interoperability; without it, global Travel Rule adoption could become fragmented.
TRP was created to enable interoperability across different solutions. VASPs that have implemented the protocol can connect, even if they use different systems.
TRUST is network-based, meaning VASPs need to join the TRUST network and integrate it into their compliance stack. Once onboarded, however, participants benefit from an expanding group of compliant peers.
TRP and TRUST are designed to be straightforward for technical teams to implement.
Implement TRP today: Access TRP’s specifications.
Secure Peer-to-Peer Data Exchange
A central principle of the FATF Travel Rule is the safe handling of customer information. Neither TRP nor TRUST relies on a central database for exchanging PII data, reducing the risk of leaks or unauthorised access.
TRP operates as a technical standard. Once a VASP has integrated the protocol, it can exchange Travel Rule data directly with a counterparty it has already vetted. Transactions take place securely on a peer-to-peer basis.
Read: TRP Has Vendors Connected and Talking
TRUST also uses peer-to-peer communication, encrypting all Travel Rule data and sending it directly between counterparties. Its secure lookup mechanism helps identify the recipient VASP before data is shared.
In both models, the design ensures that only the relevant parties ever see sensitive information.
Cross-Border Applicability
Because regulation varies across jurisdictions, Travel Rule solutions must be flexible.
TRP is not bound to a specific country or region. It supports transactions across borders and adapts to different regulatory frameworks.
TRUST likewise accommodates international requirements, helping VASPs remain compliant in multiple jurisdictions simultaneously.
This global applicability is essential for VASPs operating in more than one market.
Counterparty Identification and Verification
Confirming that information is shared with the right VASP is a critical compliance step.
Here’s how the two options address it:
TRP uses a Travel Address, which replaces the usual wallet address. The Travel Address embeds the identity of the controlling VASP and the endpoint for receiving Travel Rule data, ensuring accurate discovery and delivery.
TRUST confirms cryptographically that the receiving VASP controls the address before any information is transmitted, ensuring sensitive data isn’t misdirected.
While the mechanisms differ, both deliver a high level of assurance in counterparty discovery and verification.
Broad Asset Coverage
The FATF Travel Rule applies regardless of which digital asset is being transferred, and both TRP and TRUST account for this.
Through its adoption of the DTIF-managed ISO 24165, TRP supports more than 2,400 digital assets—a number that continues to grow.
OpenVASP board member, Lucas Betschart:
“It only made sense [for TRP] to support the adoption of the DTIF’s ISO standard. This implementation is expected to strengthen the regulation of crypto assets and encourage the global adoption of TRP as an open Travel Rule standard.”
TRUST, being blockchain-agnostic, can handle any digital asset a VASP offers, ensuring coverage across full portfolios.
With both, VASPs can remain compliant no matter what assets they list or where their customers transact.
Wrapping Up
TRP and TRUST are both strong options for VASPs seeking a reliable Travel Rule compliance strategy. They provide:
Interoperability with other compliant VASPs
Secure peer-to-peer data transfers
Support for global transactions
Effective counterparty verification
Coverage across all digital assets
A not-for-profit setup
The two approaches are not mutually exclusive. Many VASPs benefit from using both side by side, combining the strengths of each to achieve flexible, resilient compliance.