Do not design a Travel Rule integration as just an API call. Counterparty, data model, validation and exception management must be planned together.
Scope and data model
Determine which transactions and counterparties are in scope. Clarify the version of the data model used, its field rules and who is responsible for validation.
Sunrise and unreachable counterparties
A counterparty not being ready at the same time or in the same scope is a separate operational scenario. Do not show no-response, missing-data and different-protocol cases as completed transactions.
Pilot and production
Define success criteria, error scenarios and go-live conditions before the pilot. Do not treat a provider's pilot or beta scope as generally available protocol support.
This content is general information. Determine the requirements that apply to your institution from current official sources and your own assessment process.
See the related product scope → Crypto-asset platforms solution
Legichain — technology for identity verification, AML and blockchain screening. Contact: [email protected]