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Why do I need to name the wallet owner for withdrawals?

To comply with the FATF Travel Rule, which is a set of global standards aimed at enhancing the safety of virtual asset transfers, Revolut, as a virtual asset service provider (VASP), needs you to provide recipient information when making crypto withdrawals.

Information required for compliance

  • Sender's name (and address for transactions exceeding €1,000)
  • Recipient's name
  • Transaction hash (ID)

This information helps create a more transparent and traceable system for monitoring virtual asset transactions, contributing to global efforts to enhance transaction safety.

Data sharing and protection

Revolut has partnered with Coinbase TRUST to ensure Travel Rule compliance.

Our third-party vendor risk team has performed a thorough security and privacy assessment on TRUST to ensure that their security controls adhere to the highest security standards.

Data transmission

TRUST facilitates the network over which your personal data is transmitted. It doesn’t store or monitor your personal data.

The data shared by Revolut will be transmitted directly to the virtual asset service provider, which owns the crypto address, and to no one else.