Lead stablecoin company Tether (USDT) will integrate Notabene’s Travel Rule solution.
The company announced on Tuesday that it will integrate Notabene’s Travel Rule solution, which works on crypto-asset compliances. This move will help the company comply with Financial Action Task Force (FATF) guidelines and combat the use of USDT in money laundering activities.
Notabene’s solution will allow Tether to securely transmit user data to Virtual Asset Service Providers (VASPs) for large crypto transfers. According to FATF’s Travel Rule guidelines, VASPs transmit certain customer data between counterparties for transactions over a certain limit. This will help the company take action against money laundering and cross-border crime and protect its customers.
Tether’s willingness to comply with FATF guidelines comes after Bloomberg revealed that the company had lent billions of dollars to Chinese companies amid the Evergrande crisis.
