GEORGE TOWN, Cayman Islands, Aug. 15, 2025 (GLOBE NEWSWIRE) -- Toobit, the award-winning global cryptocurrency exchange, today announces its membership in the VerifyVASP network, a leading Travel Rule solution provider.
This alliance provides Toobit users with direct access to a global network of verified virtual asset service providers, creating a more transparent trading environment. With the adoption of VerifyVASP’s messaging protocol, traders can perform fully compliant cross-border transactions, which fortifies the platform against financial crime.
“We joined VerifyVASP to ensure our traders’ transactions are secure,” said Mike Williams, Chief Communication Officer at Toobit. “This collaboration allows us to handle the complexity of regulations, so our users can focus entirely on their trading strategies.”
Regulatory action has become the new standard in the crypto world. A recent FATF report from June 2025 revealed that 85 jurisdictions, representing approximately 98% of the global virtual asset market, have now passed legislation to enforce the Travel Rule. This regulatory momentum is a direct response to rising threats.
Illicit on-chain activity remains a significant concern, with over $2.17 billion stolen from cryptocurrency services in the first half of 2025 alone. This figure has already surpassed the total stolen funds from all of 2024, underscoring the urgent need for verifiable security solutions like VerifyVASP.
About Toobit
Toobit is where the future of crypto trading unfolds—an award-winning cryptocurrency derivatives exchange built for those who thrive exploring new frontiers. With deep liquidity and cutting-edge technology, Toobit empowers traders worldwide to navigate the digital asset markets with confidence. We offer a fair, secure, seamless, and transparent trading experience, ensuring every trade is an opportunity to discover what’s next.
For more information about Toobit, visit: Website | X | Telegram | LinkedIn | Discord | Instagram
Contact: Davin C.
Email: market@toobit.com
Website: www.toobit.com
Disclaimer: This content is provided by Toobit. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.
Legal Disclaimer: This media platform provides the content of this article on an "as-is" basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6320a28e-aa49-4bd5-9bc5-02cd22fae9dc
