Coinbase has added PayPal to the Travel Rule Universal Solution Technology (TRUST) network, according to an Armstrong Coinbase blog post, marking another milestone in TRUST's mission to become the worldwide, industry-standard solution for Travel Rule compliance.
TRUST, according to the blog post, is a comprehensive and secure solution designed to "comply with a requirement known as the Travel Rule while preserving our clients' security and privacy." TRUST was created jointly by the world's largest cryptocurrency exchanges to set the benchmark for Travel Rule compliance."
TRUST is an invention that allows financial businesses who utilize it to exchange some basic information about their clients whenever they transmit cash to another financial institution in excess of a specified amount.
TRUST was launched in February, and since then, more than 35 companies have joined the network, including Binance.US, bitFlyer, BitGo, Bittrex, BlockFi, BlocPal, Cake DeFi, Circle, Coinbase, Coinhako, Coinsmart, Coinsquare, Crypto.com, Custodia, Fidelity Digital Assetssm, Gemini, Kraken, Netcoins, Nexo, Paxos, PayPal, Prime Trust, Robinhood,
For more than 20 years, PayPal has been one of the world's top corporations in facilitating digital payments. It utilizes technology to make financial services and commerce more easy, inexpensive, and secure for more than 400 million users and merchants worldwide.
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