Coinbase introduces TRUSThub to simplify crypto compliance
Built on five principles—compliance, interoperability, simplicity, usability, and security—TRUSThub is poised to make compliance tasks more scalable and user-friendly for the cryptocurrency industry.
Coinbase has launched TRUSThub, a new platform designed to simplify compliance and secure data sharing among Virtual Asset Service Providers (VASPs). Unveiled on 5 December, the platform aims to help VASPs meet the requirements of the Travel Rule, which mandates the exchange of specific customer information for certain transactions. TRUSThub will enable seamless data transmission, even to non-members or unregulated entities, and is set to be accessible to TRUST members by the end of 2024.
With prominent VASPs like BitGo, Binance.US, and PayPal on board, TRUSThub will provide a range of features to support compliance and innovation in the rapidly evolving digital asset market. By automating recipient identification and securely sharing Travel Rule data, the platform addresses the growing need for secure information sharing in the crypto industry.
The TRUSThub platform focuses on five key principles: compliance, interoperability, simplicity, usability, and security. These pillars ensure that data sharing aligns with regulatory expectations while maintaining privacy and user satisfaction. As a result, TRUSThub is expected to make compliance more scalable and user-friendly, offering significant benefits to both members and the broader crypto ecosystem.
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