API integration
Last updated
Last updated
The Ospree Full API Integration gives integrators complete control over key process steps, minimizing manual effort and maximizing operational efficiency.
Step 1: The Originator VASP sends the originator, beneficiary, and transaction details to Ospree.
Step 2: Ospree creates an account for the originator if one does not already exist.
Step 3: The wallet address is associated with the originator account if it has not been linked before.
Step 4: Ospree creates an account for the beneficiary if one does not already exist.
Step 5: The wallet address is associated with the beneficiary account if it has not been linked before.
Step 6: Ospree notifies the Beneficiary VASP and sends a Travel Rule transfer inquiry.
Step 7: The Beneficiary VASP may run an optional KYC check on the originator account.
Step 8: The Beneficiary VASP responds with a decision, either approving or rejecting the transfer with a reason.
Step 9: Ospree sends the transfer resolution to the Originator VASP.
Step 10: If the transfer is approved, the Originator VASP executes the virtual asset transfer to the beneficiary's wallet address.
Step 11: The Originator VASP updates the Travel Rule transfer with the transaction hash information.
Originator VASP: The Virtual Asset Service Provider responsible for initiating the transfer on behalf of the originator.
Beneficiary VASP: The Virtual Asset Service Provider receiving the transfer on behalf of the beneficiary.
Originator Details: Information about the sender of the transfer, including identity and wallet address.
Beneficiary Details: Information about the transfer recipient, including identity and wallet address.
Wallet Address: A unique identifier where virtual assets are stored and transferred.
Transaction Details: Information about the transfer, including amount, asset type, and transaction hash.
