VerifyVASP Acquires Sygna to Strengthen Global "Travel Rule" Network
Singapore, (ANTARA/PRNewswire) - VerifyVASP, a leading provider of Travel Rule solutions, has announced the acquisition of Sygna, a renowned Japanese company providing similar solutions.
This acquisition represents a significant step in VerifyVASP’s global expansion strategy, strengthening its position as a primary provider of regulatory compliance infrastructure for virtual asset service providers (VASPs) across various international markets.
Consolidation of the Travel Rule Ecosystem
This acquisition marks a pivotal moment in the development of the Travel Rule in the global market. By integrating Sygna into its network, VerifyVASP is driving the consolidation of a previously fragmented market into a more unified and interconnected regulatory compliance network, aligned with national regulations, Financial Action Task Force (FATF) standards, and global data protection provisions.
VerifyVASP’s Verified Network is a key element behind this strategy. The Verified Network is a global-scale regulatory compliance infrastructure that supports secure, real-time, and standardised data exchange between VASPs. With Sygna’s integration, this network expands in scale, depth, and geographic reach, thereby enhancing connectivity and regulatory compliance.
Sygna’s members will continue to operate without disruption and will be gradually integrated into the Verified Network in accordance with regulations in their respective regions. This process is expected to expand cross-market connectivity while improving interoperability.
On the other hand, VerifyVASP members will gain access to a broader network of authorised partners, increasing efficiency, reducing barriers to cross-border transactions, and streamlining regulatory compliance processes.
Towards a Global Standard Travel Rule Compliance Mechanism
Through this acquisition, VerifyVASP further cements its position as a global standard-setter in Travel Rule compliance infrastructure.
Shih Yun Chia, CEO of VerifyVASP, stated, “The acquisition of Sygna reaffirms our commitment to building a global standard Travel Rule compliance mechanism through a broader and more targeted network. This momentum aligns with the steps taken by the FATF, regulators, and global financial institutions to tighten rule enforcement.”
Michael Ou, Founder & CEO of Sygna, added, “Sygna brings trusted regulatory compliance infrastructure to the virtual asset industry—a sector with stringent regulations. We are proud of our team’s achievements in Japan and welcome the collaboration with VerifyVASP. Through this collaboration, we are ready to support VASPs with a secure, efficient, and globally scalable Travel Rule compliance mechanism.”
In line with evolving regulations, VerifyVASP continues to build a global and interconnected compliance ecosystem to support VASPs, financial institutions, and regulators in creating a safe, transparent, and trustworthy digital asset market.
About VerifyVASP Pte. Ltd.
VerifyVASP Pte. Ltd., a subsidiary of Upbit Global Pte. Ltd., is a leading Travel Rule solution provider that delivers secure and scalable regulatory compliance infrastructure for VASPs worldwide. VerifyVASP’s services encompass comprehensive compliance solutions, from counterparty due diligence and interoperable messaging protocols to on-chain risk analytics and consultations on Travel Rule and data protection. Additionally, VerifyVASP provides solutions for global law enforcement agencies to prevent, detect, and investigate illegal activities related to digital assets.
About Sygna Inc.
Sygna Inc. is a pioneer in Travel Rule solutions that has led the development of regulatory compliance infrastructure for the digital asset industry. With a strong presence in Japan, Sygna has established connectivity with leading VASPs in one of the world’s most tightly regulated markets, serving as a strategic gateway to Japan’s digital asset ecosystem.