Bitfinex Trials Notabene’s State-of-the-art Travel Rule Solution for Cross Border Payments



Bitfinex, a state-of-the-art digital token trading platform, announced today that it will be utilizing Notabene, an end-to-end solution for crypto regulatory compliance. It will begin testing its protocol-agnostic solution for Travel Rule compliance in order to bring transparency to cross-border transactions.

Notabene will enable Bitfinex to test complex Travel Rule transactions in a collaborative, low-risk environment as the exchange prepares for new regulations. In order to ensure customer protection, specifically as it pertains to transactions made by Virtual Asset Service Providers (VASPs), Bitfinex will use Notabene’s solution to share, send and receive counterparty information alongside blockchain transactions to counterparties that use the same infrastructure.

Global money-laundering watchdog the Financial Action Task Force (FATF) has issued guidelines holding crypto companies to similar standards as regulated financial entities. The “Travel Rule” recommends that VASPs dealing with virtual assets should transmit specific customer data between counterparties for transactions over a certain threshold. These practices are intended to assist countries and service providers to combat money laundering, terrorist financing, and abide by Sanctions measures.


Peter Warrack, Chief Compliance Officer at Bitfinex, said:

“As the preeminent, leading exchange in the trading of bitcoin, Bitfinex has always taken a leading role in meeting new global regulatory requirements. We chose to trial Notabene’s best-in-class solution as it delivers a seamless compliance process without any compromise to the user experience.”

Pelle Braendgaard, CEO of Notabene, said:

“Bitfinex has been an integral part of the crypto currency community for many years now. They share our vision for a continued open crypto currency ecosystem. We are excited to help work with them implementing the Travel Rule, a key part of the latest guidelines for Virtual Asset Service Providers from FATF. Travel Rule testnets are the best way for companies to collaborate on the approach to roll out Travel Rule compliance.”

By bringing a trusted data layer to blockchain transactions, Notabene’s design will assist Bitfinex in managing counterparty risk and deliver a best-in-class payment experience to its customers while maintaining GDPR compliance and user data protection.

With the successful integration of Notabene’s solution, Bitfinex aims to maintain its reign as a leader in transparency and in getting information to the community as well as its stakeholders, while demonstrating full compliance with regulatory requirements. To learn more about Bitfinex, please visit, www.bitfinex.com.


About Bitfinex Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex's strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.

Media Contact for Bitfinex Joe Morgan Senior PR Manager joe.morgan@bitfinex.com



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