Verify Ownership for Avalanche-based Addresses with AOPP

21 Analytics’ Travel Rule solution supports self-hosted wallet verification for Avalanche blockchain addresses through the AOPP Portal. 

For VASPs, this provides a simple and secure alternative to manual wallet-signing procedures while helping them incorporate wallet ownership verification into their Travel Rule workflows.

Why Support Avalanche?

Avalanche provides fast and cost-efficient transactions, making it an attractive network for digital asset activity. Its growing ecosystem supports a wide range of use cases, including stablecoins, DeFi, trading and payments, with an increasing number of users and applications relying on the network.

Avalanche has also gained significant traction among institutional participants, including KKR, JPMorgan’s Onyx, WisdomTree and Franklin Templeton’s BENJI fund. Its architecture allows institutions to launch customised Avalanche L1s, formerly known as Subnets, with features designed to support compliance requirements, including KYC/AML controls and permissioned validation.

As these institutions expand their digital asset activities across different networks, they require compliance infrastructure that can support institutional operations while accommodating the specific requirements of blockchain transactions.

For VASPs, banks and financial institutions, 21 Travel Rule’s recent support of the Avalanche chain provides a consistent approach to Travel Rule compliance and self-hosted wallet verification, helping institutions manage digital asset transactions across an increasingly diverse blockchain ecosystem.

Avalanche and the AOPP Portal

Once a customer initiates a transaction through their exchange’s dashboard, a unique proof request is generated. The customer then follows the provided instructions to connect their wallet and demonstrate ownership of the relevant assets.

After the verification is successfully completed, the proof is automatically sent back and stored in the 21 Travel Rule software. The compliance team can then access and review the proof directly through the 21 Travel Rule Compliance Dashboard.

Compliance with Minimal Effort

By supporting Avalanche through the AOPP Portal, VASPs can provide customers with a straightforward way to verify ownership of their self-hosted wallets.

The process removes the need for customers to manually sign messages, reducing friction while providing VASPs with a clear record of wallet ownership verification.

For compliance teams, this means self-hosted wallet verification can be incorporated into an automated Travel Rule workflow rather than handled as a separate manual process.

As Avalanche continues to support fast, low-cost transactions across payments and digital asset applications, streamlined wallet verification can help VASPs serve customers across the network while maintaining appropriate compliance controls.

The AOPP Portal supports digital assets native to Bitcoin, Ethereum, Binance Chain, TRON, Polygon, Solana, Optimism, Gnosis, and Arbitrum, and other supported blockchain networks. Moreover, by leveraging ISO 24165, more than 2800 digital assets are supported.

With 21 Travel Rule, VASPs can automate self-hosted wallet verification, simplify compliance and maintain a smooth customer experience across multiple blockchain networks.

Simplify self-hosted wallet verification with 21 Analytics, request a demo.