StraitsX takes a phased approach in complying with Travel Rule. You are required to provide additional information when you receive virtual assets or send virtual assets from an originating party or to a beneficiary party respectively.
While receiving virtual assets from an originating institution (i.e., virtual asset service provider), you are required to provide the details of the originating party (i.e., full legal name and the name of the originating institution).
Similarly, while sending virtual assets to a beneficiary institution (i.e., virtual asset service provider), you are required to provide the details of the beneficiary party (i.e., full legal name and the name of the beneficiary institution).