We are proud to announce that Bastion has joined the Travel Rule Universal Solution Technology (TRUST) network, an industry-driven initiative designed to meet regulatory compliance requirements while safeguarding customer privacy and security.
What is TRUST?
The Travel Rule, established by the Financial Action Task Force (FATF), requires financial institutions to share specific customer information during certain transactions. Originally created for traditional finance, this regulation now extends to custodial cryptocurrency exchanges.
TRUST was developed to address these compliance challenges without compromising on security and privacy. As a global, industry-driven solution, TRUST ensures the secure sharing of legally required information while prioritizing data protection for customers.
Why Bastion Joined TRUST
By becoming a TRUST member, Bastion joins a coalition of over 90 prominent Virtual Asset Service Providers (VASPs) worldwide, including industry leaders such as PayPal, Coinbase, and Fidelity Digital Assets. This partnership:
- Strengthens our commitment to top-tier compliance with the Travel Rule.
- Ensures secure, encrypted sharing of sensitive data without centralizing customer information.
- Aligns with our mission to build a secure and compliant crypto ecosystem for enterprises.
Key Features of TRUST
- Decentralized Data Handling: No central store of customer data, reducing vulnerability to attacks or misuse. Information is exchanged directly between TRUST members via end-to-end encrypted channels.
- Proof of Address Ownership: TRUST verifies the ownership of receiving crypto addresses before transmitting customer data, ensuring the right information reaches the right entity.
- Robust Security Standards: All members adhere to stringent anti-money laundering, sanctions, security, and privacy requirements, supported by ongoing compliance checks.
Looking Ahead
Joining TRUST marks a significant milestone in Bastion's journey to advance regulated stablecoin solutions and wallet infrastructure. As TRUST continues to expand globally, we are proud to contribute to a safer, more transparent crypto ecosystem.
For more information about TRUST and its role in shaping the future of crypto compliance, visit Coinbase's TRUST page.