Virtual Asset Service Provider (VASP)
In cryptocurrency and digital assets, a VASP refers to any business entity or person that provides services involving virtual assets, such as exchanges, wallet providers, and custodial services. VASPs are typically subject to regulatory requirements aimed at preventing money laundering, terrorist financing, and other illicit activities, like traditional financial institutions.
Virtual International Bank Account Number (IBAN)
An IBAN reference issued by a bank to allow incoming payments to be rerouted to a different physical bank account.
Virtual Currency
ShapeVirtual currency is a type of unregulated digital currency. It is not issued or controlled by a central bank. Examples of virtual currencies include Bitcoin, Litecoin, and XRP. Digital currencies are stored in and transacted through designated software, applications, and networks in digital form.