Stage 1 - Authenticating, Validating & Searching: Here you will configure the authentication steps and the front-end wallet identification + beneficiary information collection using our widget or API. You will also enable your user to search in our directory if the VASP wasn't automatically identified by your blockchain analytics provider.
Stage 2 - Sending: Here you will be creating travel rule transactions by combining the beneficiary information you collected in stage 1 with the necessary details required about your costumer. Once everything is ready, the travel rule message will be sent to the beneficiary VASP.
Depending on your jurisdiction, you might be compliant with your travel rule requirements after this stage. We do however recommend that you complete the remaining stages for a fully automated setup with minimal manual intervention.
Stage 3 - Updating & Executing: Here you will enable automatic updates to the travel rules you sent in phase 2 to be pushed to your back-end and link the execution of the blockchain transaction to the "accepted" status.
Stage 4 - Incoming: Here you will configure what happens when you have an incoming blockchain transaction.
Updated about 1 month ago
Let's look at how your system interacts with Notabene: