VerifyVASP Collaborates with Aton for Travel Rule Adoption in Korea

SINGAPORE, Jan. 21, 2022 /PRNewswire/ -- Virtual asset operators in Korea are obliged to comply with Travel Rule requirements for any digital asset transfer exceeding KRW 1 million, by March 25, 2022. Lambda 256, the technology provider of VerifyVASP has signed an MOU with Aton Inc. (KOSDAQ:158430) in order to promote the adoption of VerifyVASP solution.

Aton is a listed financial technology company in Korea, who has been providing IT security solution to financial institutions for the past 20 years. In consideration of social distancing from COVID-19 situation, the signing ceremony was conducted online between Kim Jong-Seo (CEO, Aton Inc.) and Park Jae-Hyun (CEO, Lambda 256 Inc.).

Through this MOU, the two companies will cooperate for the adoption of VerifyVASP supporting Travel Rule compliance for virtual asset operators in Korea. Additionally, the companies will expand its collaboration toward various new RegTech businesses including authentication, security, AML solution by sharing technology and business network.

Aton's CEO Kim Jong-Seo said, "Through this cooperation, we will contribute to a transparent and healthy development of digital asset business supporting the adoption of VerifyVASP's Travel Rule solution".