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PayPal-backed Mesh teams up with Reown to verify Bitcoin wallets for Travel Rule

Mesh, a US fintech company, has partnered with Reown to launch wallet ownership verification for Bitcoin and other UTXO-based assets. This feature aims to comply with the European Banking Authority's upcoming Travel Rule Guidelines, which require crypto businesses to collect and share specific customer information for transactions above a certain threshold. Mesh's CEO highlighted the market demand for wallet ownership verification solutions and the importance of wallet interoperability. Mesh recently secured $22 million in a funding round and counts PayPal Ventures among its investors.

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