Shyft Network is a powerful tool for bridging crypto and compliance. Learn more about how the Shyft Network can be used to build.
As the popularity of DeFi grows, the threat of regulation will always linger, and facing it head on is the best way to deal with it.
The Verified Shyft Compliant Optimized Participant Exchange (Veriscope) system is the first public utility and application stack for solving the Financial Action Task Force (FATF) travel rule, which mitigates risks around virtual assets. Veriscope’s smart contract-powered coordination infrastructure enables the exchange of sender/receiver information. It ensures that VASPS (cryptocurrency exchanges, custodial wallets, and OTC desks—the central point of user-onboarding in the cryptocurrency) are compliant with AML/KYC, a set of regulations designed to fight money laundering and counter-terrorist financing.