Paypal Joins TRUST Network, Complies To Travel Rules

TRUST Network has welcomed another digital payment facilitating company into its midst. After fulfilling all necessary preliminaries and cooperation, Paypal has been accepted into the network. 

The virtual payment facilitator, Paypal, had connected with the network to step up regulations on its platform. All digital/crypto transactions on Paypal will align with the Travel rule to secure users’ information and confidentiality. 

Paypal Connects With CirclePay, BitGo In TRUST Network

 Paypal has connected with the leagues of top crypto/digital assets companies on the TRUST network. Its acceptance into the virtual asset regulator group was made known earlier by a P2P payment technology company, Circlepay. The tech payment company, CirclePay, a network member, made the announcement known via its verified Twitter handle. 

“Join us as we accept an online payment facilitator, Paypal, to the TRUST network. We are inclined to secure users’ information confidentiality and privacy”.

This recent update is coming a few months after Paypal added cryptocurrency services to its offerings. The payment company launched a new feature that allowed its customers to transact their virtual assets/currencies from their accounts to other crypto platforms and wallets. Although Paypal had made its move to join the cryptocurrency industry two years ago, the movement came to reality in 2022. 

Following Paypal acceptance in the network aimed at travel rules compliance, the payment company may release a new policy framework for its users. Although Paypal founder neither its officials have reacted nor spoken about the latest update, users may expect a new regulatory roll-out from the platform. 

Global Progressive Growth of The Digital Asset Network Group

The digital asset solution network group was created a few months ago, in February. The network was founded in the United States by top companies in the cryptocurrency/virtual currency space to promote the confidentiality of users’ information. 

 Top U.S. cryptocurrencies and assets companies like; BitGo, Bittrex, and Bitgo were pioneering members of the network. In just a few months after the network was launched, the number of its members increased to almost 40.

The companies formed a network to enforce customer protection rules by virtual asset companies globally. All companies under the network were authorized to request customer details from all member companies. 

This network will make access to customers’ details and information much more secure and transparent without infringing on their rights. All exchanges of information are well secured via a P2P channel.

Over the past few months, the network has surged in its global-driven mission with over 30 companies. The network has high-profile companies like; CirclePay, Coinhacko, Bitgo, Bittrex, Blocpal, Gemini, Amber Group, Block FI, CoinSqaure, and others.