{"id":5029,"date":"2020-07-29T12:24:26","date_gmt":"2020-07-29T12:24:26","guid":{"rendered":"https:\/\/www.sygna.io\/?p=5029"},"modified":"2020-08-06T12:52:59","modified_gmt":"2020-08-06T12:52:59","slug":"sygna-bridge-roadmap-2020","status":"publish","type":"post","link":"https:\/\/www.sygna.io\/zh-hant\/blog\/sygna-bridge-roadmap-2020\/","title":{"rendered":"Bridging Crypto Regulation: Sygna&#8217;s First 12 Months and 2020 Roadmap"},"content":{"rendered":"\n<p>It&#8217;s been a transformative year for CoolBitX since we launched our Sygna Bridge AML compliance solution a little over a year ago in 2019. Despite a challenging 2020 due to increasing regulatory actions and COVID-19 , we feel that the crypto industry and us are weathering this adversity well and  growing from it. <\/p>\n\n\n\n<p>This article recaps the progress made in Sygna Bridge&#8217;s first 12 months and previews our plans till the end of 2020.<\/p>\n\n\n\n<p>Sygna Bridge is a first-to-market FATF Travel Rule solution that helps virtual asset service providers (VASPs) adhere to the Financial Action Task Force (FATF)&#8217;s Recommendation 16&#8217;s data-sharing requirement.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">1. Why we created Sygna Bridge<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"537\" src=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_Linkedin-1024x537.png\" alt=\"\" class=\"wp-image-2790\" srcset=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_Linkedin-1024x537.png 1024w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_Linkedin-600x315.png 600w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_Linkedin-768x403.png 768w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_Linkedin-300x157.png 300w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_Linkedin-1030x540.png 1030w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_Linkedin-705x370.png 705w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_Linkedin-450x236.png 450w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_Linkedin.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div style=\"height:31px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>Since CoolBitX started in early 2014, our mission has been to foster the mass adoption of cryptocurrencies by making them safe and convenient to own.<\/p>\n\n\n\n<p>After the FATF introduced new regulations in February 2019, CoolBitX understood that these would transform the crypto industry permanently. <\/p>\n\n\n\n<p>Supported by our <a href=\"http:\/\/www.finsmes.com\/2018\/09\/coolbitx-raises-13m-in-venture-capital-funding.html\">Series A<\/a> lead investor SBI Group, our ideas and insights coalesced into a new vision &#8211; to help the crypto industry get in front of incoming global regulations. <\/p>\n\n\n\n<p>As a blockchain security pioneer with <a href=\"https:\/\/coolbitx.com\/about\/\">its roots in Fintech banking security<\/a>, it was a natural progression. <\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">2. Travel Rule Challenges<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1030\" height=\"515\" src=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_normal1-1030x515.png\" alt=\"\" class=\"wp-image-2679\" srcset=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_normal1-1030x515.png 1030w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_normal1-300x150.png 300w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_normal1-768x384.png 768w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_normal1-1536x769.png 1536w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_normal1-2048x1025.png 2048w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_normal1-1500x751.png 1500w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_normal1-705x353.png 705w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/01\/Sygna_What-are-the-different-Travel-Rule-solutions-in-the-market_normal1-450x225.png 450w\" sizes=\"(max-width: 1030px) 100vw, 1030px\" \/><\/figure>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>The FATF&#8217;s Recommendation 16, which obligates VASPs such as cryptocurrency exchanges to share beneficiary and originator transmittal data with counter parties, provided <a href=\"https:\/\/www.sygna.io\/blog\/8-compliance-challenges-fatfs-r-16-pose-to-vasps\/\">huge challenges<\/a> that had to be overcome. These included:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A tight 12-month review deadline (now extended to June 2021)<\/li><li>Language and technical format issues<\/li><li>Security, privacy, cost and technical considerations<\/li><\/ul>\n\n\n\n<p>The FATF Travel Rule required technology to be used that didn&#8217;t exist yet and could be problematic. <\/p>\n\n\n\n<p>How could VASPs ensure they interact with bona-fide VASPs, maintain the privacy of the personal data to be shared, while minimizing expenditure and technical complexity in the process? <\/p>\n\n\n\n<p>For CoolBitX the answer was simple: Don&#8217;t reinvent the wheel. Adapt it to the new terrain. <\/p>\n\n\n\n<p>That meant using tried and trusted decentralized and centralized technology to build a flexible solution that could thrive in this new regulatory paradigm.<\/p>\n\n\n\n<p>Here&#8217;s how we went about it. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"211\" src=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.37.53-1024x211.png\" alt=\"\" class=\"wp-image-5035\" srcset=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.37.53-1024x211.png 1024w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.37.53-600x124.png 600w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.37.53-768x158.png 768w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.37.53.png 1369w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div style=\"height:34px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">02\/19 &#8211; FATF introduces Travel Rule<\/h3>\n\n\n\n<p>On 22 February, the FATF published its <a href=\"https:\/\/www.fatf-gafi.org\/publications\/fatfrecommendations\/documents\/regulation-virtual-assets-interpretive-note.html\">Public Statement on Mitigating Risk from Virtual Assets<\/a> that introduced the Travel Rule (Interpretive Note to R.15 paragraph 7(b)-R16. <\/p>\n\n\n\n<p>We anticipated as much after the <a href=\"https:\/\/www.fatf-gafi.org\/publications\/fatfrecommendations\/documents\/regulation-virtual-assets.html\">FATF&#8217;s October 2018 guidance<\/a>, and this was a clear sign that virtual asset regulation was here to stay. CoolBitX began to brainstorm and we drew up plans for a Travel Rule solution soon after.\u00a0<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">05\/19 &#8211; FATF Private Sector Forum (Vienna)<\/h3>\n\n\n\n<p>In May 2019, CoolBitX was invited to attend the FATF&#8217;s Private Sector Consultative Forum (PSCF) in Vienna, Austria, where we shared Sygna Bridge&#8217;s concept. Despite the  industry&#8217;s vocal opposition to <a href=\"https:\/\/www.sygna.io\/blog\/what-is-fatf-recommendation-16-for-vasps\/\">Recommendation 16,<\/a> the FATF promulgated it a month later after its June plenary.\u00a0<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">06\/19 &#8211; Sygna Bridge development starts<\/h3>\n\n\n\n<p>In June 2019, the FATF officially <a href=\"http:\/\/www.fatf-gafi.org\/publications\/fatfrecommendations\/documents\/public-statement-virtual-assets.html\">adopted its Travel Rule requirement<\/a> in its Guidance to a RBA to Virtual Assets and VASps , CoolBitX officially began its development of Sygna Bridge.&nbsp;<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">08\/19 &#8211; Proof of Concept &amp; SBI partnership<\/h3>\n\n\n\n<p>After a mere 2 months of development on Sygna Bridge, CoolBitX&#8217;s skilled development team had successfully created a Proof of Concept (PoC) demo that underscored Bridge&#8217;s feasibility.&nbsp;<\/p>\n\n\n\n<p>CoolBitX and SBI VC also announced their partnership in a press release that detailed how this cooperation would help SBI VC comply with FATF regulations.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">12\/2019- MoUs with Japan and Korea VASPs<\/h3>\n\n\n\n<p>CoolBitX ended 2019 by signing several confidential memorandums of understanding (MoU) with leading crypto asset exchanges in Japan, Korea and Taiwan.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"186\" src=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.37.38-1024x186.png\" alt=\"Sygna Bridge 2020 Roadmap\" class=\"wp-image-5036\" srcset=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.37.38-1024x186.png 1024w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.37.38-600x109.png 600w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.37.38-768x140.png 768w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.37.38.png 1362w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div style=\"height:37px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">2020 Milestones &amp; Roadmap<\/h2>\n\n\n\n<p>In January 2020, sweeping new crypto-targeted regulations like <a href=\"https:\/\/www.sygna.io\/blog\/singapore-cryptocurrency-regulations-and-digital-payment-token-service-licensing\/\">Singapore&#8217;s Payment Services Act<\/a> and the <a href=\"https:\/\/www.sygna.io\/blog\/what-is-amld5-anti-money-laundering-directive-five-a-guide\/\">5th Anti-Money Laundering Directive (AMLD5)<\/a> came into effect. We knew that 2020 would prove be the biggest year yet for the evolution of crypto regulation, as countries started to set in motion their regulatory frameworks to comply with the FATF Standards. <\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/HvjObx0E8z3bPeYwQ-PjGZW0kCCAqojhP39wv1gZIsOlagQskUqxY8fSmjZzgAc2UL-a7ukwRAi17qOcMjmuimuemEpZRuKNI64zsQyMm9ZxwPuZ03t1HtnUTSN2bzkIjqoWaRAv\" alt=\"\"\/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"175\" src=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.33.44-1024x175.png\" alt=\"\" class=\"wp-image-5031\" srcset=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.33.44-1024x175.png 1024w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.33.44-600x102.png 600w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.33.44-768x131.png 768w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.33.44.png 1367w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">02\/2020: CoolBitX&#8217;s $16m Series B closes<\/h3>\n\n\n\n<p>On 25 February 2020, CoolBitX announced that it had closed its Series B fundraising round, raising $16.75 million from investors SBI Holdings, Monex, Bitsonic ( who would also participate as VASPs) and government funding.&nbsp;<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">03\/2020: Sygna Bridge Version 1.0 released<\/h3>\n\n\n\n<p>Soon after its Series B closing, CoolBitX released Sygna Bridge 1.0. The company also announced it had signed MoUs with 13 VASPs in the Greater Asia region, including SBI VC Trade (JP), Coincheck (JP), Bitbank (JP), DMM Bitcoin (JP), BITpoint (JP), BitSonic (KR), MaiCoin (TW), BitoPro (TW), Ace (TW), and other exchanges throughout the APAC region.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"181\" src=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.32.23-1024x181.png\" alt=\"\" class=\"wp-image-5032\" srcset=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.32.23-1024x181.png 1024w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.32.23-600x106.png 600w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.32.23-768x136.png 768w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.32.23.png 1366w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">04\/2020 &#8211; VASP Live Production Test Report <\/h3>\n\n\n\n<p>On 15 April, 2020, CoolBitX presented findings of Sygna Bridge\u2019s most recent <a href=\"https:\/\/drive.google.com\/file\/d\/1Iz3G6bcNYRQODkTqLh6mop2ZT-_vLRiN\/view\">production report<\/a> to members of the <a href=\"https:\/\/www.fatf-gafi.org\/about\/membersandobservers\/membershipprocessandcriteria.html#:~:text=The%20Contact%20Group%20is%20open,country%20at%20each%20Plenary%20meeting.\">FATF Contact Group<\/a> (established in June 2019 to monitor industry-led FATF Standards compliance efforts).<\/p>\n\n\n\n<p>In a series of tests and cross-border transfers between SBI VC, Bitsonic, and BitoPro \u2014 audited by a Big 4 accounting firm \u2014 the Sygna Bridge platform demonstrated its effectiveness as a cross-border \u2018Travel Rule\u2019 solution.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">05\/2020 &#8211; Sygna Robot VASP and Consensus Distributed<\/h3>\n\n\n\n<p>In May 2020, Sygna released its <a href=\"https:\/\/www.sygna.io\/blog\/robot-vasp-debugging-sygna-bridge\/\">Robot VASP tool<\/a>, which allows any member VASP to test and debug their API integration without the need for a live counterparty.<\/p>\n\n\n\n<p>CEO Michael Ou also took part in a CoolBitX-sponsored panel discussion at Consensus Distributed that shared <a href=\"https:\/\/www.sygna.io\/blog\/consensus-distributed-coolbitx-shares-asia-fatf-travel-rule-lessons\/\">FATF Travel Rule lessons from Asia<\/a>.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">06\/2020 &#8211; MoU with Pionex (Singapore)<\/h3>\n\n\n\n<p>In late June 2020, CoolBitX announced they signed their 18th MoU with a VASP, this time with their first Singaporean VASP, <a href=\"http:\/\/pionex.com\">Pionex<\/a>.&nbsp;<\/p>\n\n\n\n<p>CoolBitX&nbsp;also confirmed that they would be supporting the Joint Working Group (JWG)&#8217;s new InterVASP Messaging Standard, or IVMS101, a unified data messaging standard to foster interoperability between TSPs.&nbsp;<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"166\" src=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.32.08-1024x166.png\" alt=\"\" class=\"wp-image-5033\" srcset=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.32.08-1024x166.png 1024w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.32.08-600x98.png 600w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.32.08-768x125.png 768w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.32.08.png 1366w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">07\/2020: Sygna Bridge 2.0 with IVMS101 support released<\/h3>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-05-at-19.33.45.png\" alt=\"\" class=\"wp-image-4840\" width=\"364\" height=\"248\" srcset=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-05-at-19.33.45.png 723w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-05-at-19.33.45-600x409.png 600w\" sizes=\"(max-width: 364px) 100vw, 364px\" \/><\/figure><\/div>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>In July 2020, CoolBitX released Sygna Bridge 2.0, which supports IVMS101 and features an open source code generator tool for VASPs to adopt IVMS101 with ease.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">09\/2020: IVMS101 Interoperability PoC&nbsp;<\/h3>\n\n\n\n<p>At July 15&#8217;s Global Digital Finance (GDF) <a href=\"https:\/\/www.sygna.io\/blog\/gdf-travel-rule-summit-fatf\/\">Travel Rule Summit<\/a>, top of the agenda was the discussion of  interoperability issues between technical solutions and the <a href=\"https:\/\/www.sygna.io\/blog\/fatf-travel-rule-review-june-plenary\/\">crypto &#8220;Sunrise&#8221; problem.<\/a> <\/p>\n\n\n\n<p>This aligns perfectly with Sygna&#8217;s plans. In addition to strengthening Sygna Bridge&#8217;s technology and network, CoolBitX will next collaborate with other Travel Rule technical solution providers to demonstrate Proof-of-Concept (POC) interoperable IVMS data before 30 September 2020.<\/p>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"175\" src=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.31.49-1024x175.png\" alt=\"\" class=\"wp-image-5034\" srcset=\"https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.31.49-1024x175.png 1024w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.31.49-600x102.png 600w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.31.49-768x131.png 768w, https:\/\/www.sygna.io\/wp-content\/uploads\/2020\/07\/Screenshot-2020-07-27-at-20.31.49.png 1372w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">12\/2020: Sygna Bridge Interoperable Version<\/h2>\n\n\n\n<p>In the final quarter of this globally challenging year, CoolBitX will take the iterations and lessons learned in Q3 to finalize and release a new interoperable version that will lay the foundation for the increased adoption of Sygna Bridge in 2021.&nbsp;<\/p>\n\n\n\n<p>This will help our VASP members to transfer compliance-required personal data to different counter parties across different TSPs.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This article provides a 2019-2020 overview of the milestones and road map of Sygna Bridge, CoolBitX&#8217;s FATF Travel Rule technical solution for VASPs.<\/p>\n","protected":false},"author":7,"featured_media":4835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37,67],"tags":[],"class_list":["post-5029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-posts","category-tech"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - 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