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Blockchain

Bybit Levels Up Compliance Standards With Membership in the VerifyVASP Alliance

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Singapore, Singapore–(Newsfile Corp. – March 17, 2022) – Bybit, the fastest growing cryptocurrency exchange, is now a member of VerifyVASP Alliance. With this integration, Bybit streamlines compliance with the Travel Rule requirements as the exchange brings cryptocurrency transactions on its platform to comply with the Financial Action Task Force (FATF)’s guidance.

VerifyVASP has proven to be the go-to Travel Rule compliance solution among leading virtual asset service providers (VASPs), enabling them to keep up with Travel Rule requirements in a manner that also complies with personal data protection requirements.

In a move to embrace regulatory obligations and strengthen anti-money laundering (AML) effectiveness, Bybit says it is enhancing compliance standards at the infrastructure level to accord better protection to its 6 million registered users.

“Bybit is committed to growing our footprint with a principled approach to financial risks and regulatory compliance. To better serve our community we need to place checks and protections that make sense, and to make crypto more accessible for honest users, which is the vast majority of digital asset holders. Cross-border rules for the protection of legitimate finance were designed to prevent exploitations in the international financial system, and we welcome organic crypto-native solutions to fast-track regulatory compliance in the crypto space,” said Igneus Terrenus, Head of Communications at Bybit.

“Transparency is one of the core values at Bybit. And VerifyVASP gives us the data solution and technology to implement it at scale,” he added.

The Travel Rule recommendations require VASPs to become better custodians and transmitters of information. Centralized exchanges with standard Know Your Customers (KYC) processes will play an increasingly pivotal role in crypto’s transition to mass adoption.

Bybit’s participation in the VerifyVASP Alliance will contribute to the data quality and validation efficiency of the decentralized protocol for secure information sharing between VASPs in the network. Compliance with the Travel Rule via VerifyVASP is blockchain technology’s answer to risk mitigation of anti-money laundering and counter terrorist financing.

About Bybit

Bybit is a cryptocurrency exchange established in March 2018 to offer a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service, and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, as well as API support, to retail and institutional clients around the world, and strives to be the most reliable exchange for the emerging digital asset class. Bybit is the proud partner of Formula One racing team Oracle Red Bull Racing, esports teams like NAVI, Alliance, Astralis, and Virtus.pro; German soccer club Borussia Dortmund and Japanese soccer club Avispa Fukuoka.

For media inquiries, please contact: [email protected]

For more information please visit: https://www.bybit.com/

For updates, please follow Bybit’s social media platforms on: 

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LinkedIn
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Contact:
Dan Edelstein
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117158

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

Revolutionizing Fintech: 6G Digital & Rune Nilsson’s FlexM Global in a Bold $12.5M Deal Shaking the Banking Industry

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Blockchain

Teletubbies Digital Companions to Launch on the Tezos Blockchain

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MetaPals, an AI digital companion platform, is partnering with WildBrain’s beloved Teletubbies to bring together cherished childhood memories and the innovative digital era with the launch of the Teletubbies AI digital companions on 20 April, 2024.
As Teletubbies commemorates its 27th anniversary on 31 March, the collaboration marks the beginning of an exciting array of renowned IPs joining the ‘MetaPals Multiverse’ in 2024. Through the use of AI and blockchain technology powered by Tezos, much loved Tinky Winky, Dipsy, Laa-Laa, Po, and even Noo-Noo have become personalized, evolving digital companions within the MetaPals browser extension game engine.

The Teletubbies characters integrate with users’ daily browsing experience that accompanies users across the web, offering both playful interactions and practical assistance. This technology not only brings these fun characters to life in new, interactive ways, but also helps to enhance the mental well-being of users by fostering a sense of companionship.

Each Teletubbies companion within the MetaPals Multiverse will exhibit unique personality traits, offering users a diverse and dynamic experience. With personalities distributed across 5000+ Teletubby companions along a spectrum, users are guaranteed a one-of-a-kind experience, ensuring enjoyment for all and opportunities to foster new connections with this nostalgic brand.

Max Giammario, CEO of MetaPals, said: “Through this collaboration we’re not just revisiting Teletubbyland, we’re reinventing it for the digital age. By weaving in AI and blockchain, we enable the Teletubbies characters to evolve, interact, and form unique bonds with users, embodying our vision of dynamic digital companionship. With a bit of ‘MetaPals magic’, the Teletubbies are exploring beyond the hills and far away, ready to play, in ways we’ve never imagined.”

Melissa Goodrich, Director, Franchise Strategy at WildBrain, said: “We’re excited to see our colorful quartet come to life in new ways through this unique digital experience for fans. As we celebrate 27 years of the perennially popular Teletubbies franchise, this latest collaboration encapsulates the essence of childhood nostalgia while embracing the limitless possibilities of the digital age.”
Jason Lim, TZ Apac Games Adoption Team for the Tezos Ecosystem, said: “MetaPals will be pioneering the convergence of iconic IPs such as Teletubbies with the limitless possibilities of the Tezos blockchain. I can’t wait to see the magic they are brewing up next.”

The post Teletubbies Digital Companions to Launch on the Tezos Blockchain appeared first on HIPTHER Alerts.

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Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board

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