Start a transfer

Start a transfer

In the Travel Rule module, users can execute manual Travel Rule transfers with precision and confidence.

1

Initiate a Transfer

To begin a transfer, click on the "Start Transfer" button in the screen's upper-right corner. This will open a right-side drawer containing five outlined steps to guide you through the transfer process.

2

Enter Transfer Details

• Select the specific cryptocurrency for the transaction. As you input this information, real-time updates on conversion rates for multiple fiat currencies will be displayed, allowing you to make informed decisions.

• Transfer method: Choose your preferred transfer method, and when you're ready, click "Continue" to move to the next step.

3

Select the sender account

• Search and Select: Use the search bar to find the Sender account. Once located, select the account and choose the appropriate sending wallet address from the available options linked to that account.

• Review Information: You’ll obtain an overview of the account and wallet details, including a risk score that can be addressed if necessary. If everything looks good, click "Continue" to proceed.

4

Select the recipient account

• Search and Select: Like the Sender selection, search for the Recipient account using the search bar. After selecting the account, choose the relevant wallet address from the available options.

• Review Information: An overview of the account and wallet details will be provided. If you're ready to move forward, click "Continue".

5

Associate the VASP

VASP Selection: Search for and select the VASP (Virtual Asset Service Provider) associated with this transfer. This step ensures the transfer is routed through the correct service provider and is in line with compliance requirements.

6

Associate the transfer

ensure accuracy. You can easily edit the information directly from the drawer menu if any changes are needed. Once you’re confident that everything is correct, click "Confirm" to finalize the transfer.

7

Finalize the transfer

Review and Confirm: Before completing the transfer, review all the details to ensure accuracy. You can easily edit the information directly from the drawer menu if any changes are needed. Once you’re confident that everything is correct, click "Confirm" to finalize the transfer.

Benefits of manual Travel Rule transfers with Ospree By using Ospree for manual Travel Rule transfers, you benefit from reduced errors, lower costs, saved time, and a more efficient use of your compliance resources. For organizations looking for even greater efficiency, this manual process can be automated using the Ospree REST API.

Tracking and managing the transfer

• Transfer Flow: After confirmation, you can monitor the progress of the transfer in the Transfer Flow section, where key details and the real-time status of the transfer are displayed.

• Transfer Details: The Transfer Details section provides a thorough overview of all information required by the Travel Rule to complete the transfer. It also provides the option to cancel the transfer if needed.