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Coinbase Invites Crypto Startups to Collaborate on Innovative Concepts, Introduces UK Expansion of TRUST Solution

Coinbase CEO Brian Armstrong recently shared some exciting ideas in the crypto industry. He believes that now is the best time to build in the crypto space, and Coinbase is actively working on new products. However, with limited time, he wanted to share these ideas with other builders in the industry.

To facilitate discussions and collaboration, Coinbase will host its inaugural summit in Malibu, California this October. The summit aims to bring together a small group of builders to discuss these ideas and more. Whether you already have a startup or are looking to create one, you can apply to attend the summit.

In other news, Coinbase is expanding its Travel Rule Universal Solution Technology (TRUST) to the United Kingdom. TRUST is an industry-driven solution designed to improve compliance with the Travel Rule, a regulatory requirement in the crypto space. It focuses on customer security and privacy while promoting compliance.

TRUST was initially launched in the United States in early 2022 and has since expanded to Canada, Singapore, and Europe. The recent expansion includes several prominent virtual asset service providers (VASPs) in the UK, such as Baanx, Coinpass, Fidelity Digital UK, Gemini UK, Kraken UK, Paysafe/Skrill, and Revolut.

The expansion of TRUST in the UK is significant as the region is implementing its own Travel Rule requirements for VASPs. This expansion strengthens TRUST’s international coalition and paves the way for further growth in the coming year.

Currently, TRUST boasts a network of over 90 entities, including Amber Group, Anchorage Digital, Binance.US, BitGo, and many more. TRUST aims to be a global solution for Travel Rule compliance, adapting to different requirements while prioritizing customer privacy and security.

As the crypto industry continues to evolve, Coinbase and initiatives like TRUST are at the forefront of driving innovation and compliance.

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