Toobit, the award-winning global cryptocurrency exchange, today announces its membership in the VerifyVASP network, a leading Travel Rule solution provider.
This alliance provides Toobit users with direct access to a global network of verified virtual asset service providers, creating a more transparent trading environment. With the adoption of VerifyVASP’s messaging protocol, traders can perform fully compliant cross-border transactions, which fortifies the platform against financial crime.
“We joined VerifyVASP to ensure our traders’ transactions are secure,” said Mike Williams, Chief Communication Officer at Toobit. “This collaboration allows us to handle the complexity of regulations, so our users can focus entirely on their trading strategies.”
Regulatory action has become the new standard in the crypto world. A recent FATF report from June 2025 revealed that 85 jurisdictions, representing approximately 98% of the global virtual asset market, have now passed legislation to enforce the Travel Rule. This regulatory momentum is a direct response to rising threats.
Illicit on-chain activity remains a significant concern, with over $2.17 billion stolen from cryptocurrency services in the first half of 2025 alone. This figure has already surpassed the total stolen funds from all of 2024, underscoring the urgent need for verifiable security solutions like VerifyVASP.
