July 2, 2024

Carret Integrates Shyft Veriscope to Comply with FATF Travel Rule

Carret Integrates Shyft Veriscope to Comply with FATF Travel Rule

Shyft Network is excited to announce that Carret, one of India's leading crypto trading platforms, has integrated Veriscope and User Signing to comply with the FATF Travel Rule. Through this integration, Carret aims to enhance its regulatory adherence by enabling efficient and secure information sharing required under the Travel Rule for crypto transfers.

Shyft Veriscope facilitates the discovery and verification of counterparty Virtual Asset Service Providers (VASPs) in a non-intrusive manner, allowing direct, compliant data exchange without the need for intermediaries. User Signing, on the other hand, will enable Carret to directly request cryptographic proof from users' non-custodial wallets, enhancing withdrawal validation and supporting secure asset custody.

The partnership with Shyft Network not only strengthens Carret's compliance capabilities but also positions it as a trustworthy player in the global crypto market, committed to ensuring the safety and privacy of its users.

The FATF Travel Rule requires crypto service providers to identify and share specific information about parties involved in transactions. By integrating Shyft Veriscope and User Signing, Carret enhances its ability to assess risks and enables its users to conduct transactions in a safer crypto environment.

"We are thrilled to partner with Shyft Network and integrate Veriscope's cutting-edge technology," said Neha Kumari, Carret’s Co-founder. "This collaboration is key to our strategy of providing secure and compliant crypto trading services, and it further cements our position as a leader in the cryptocurrency market in India."

Commenting on the partnership, Zach Justein, Veriscope co-founder, said: "Carret's decision to integrate Veriscope highlights the strong benefits our technology brings to VASPs, with its advanced compliance infrastructure ensuring seamless adherence to the FATF Travel Rule. This is a significant step forward for the entire cryptocurrency industry, as Carret and Veriscope lead the way in setting higher standards for safety, transparency, and user experience."

About Carret
Carret, one of the leading names in India's growing crypto market, is transforming the way investors approach the nascent digital assets space. As a leading platform, Carret simplifies the complexities of crypto investments while ensuring high security and compliance standards. Offering features like direct trading and high-yield earnings on crypto assets, Carret caters to a diverse user base by supporting multiple assets. Committed to user satisfaction, Carret continues to innovate, driving forward the future of cryptocurrency investments with a focus on transparency and ease of use.

About Veriscope
‍‍Veriscope, the compliance infrastructure on Shyft Network, empowers Virtual Asset Service Providers (VASPs) with the only frictionless solution for complying with the FATF Travel Rule. Enhanced by User Signing, it enables VASPs to directly request cryptographic proof from users’ non-custodial wallets, streamlining the compliance process. Veriscope brings trust, security, privacy, and reliability to the crypto compliance process and is a go-to solution for the leading virtual asset service providers worldwide.

For more information, please reach out to [email protected]