04 - IVMS101-part2

1. IVMS101

• IVMS101 is a standardized Travel Rule data format for secure and interoperable exchange between VASPs.

1-1. Reference Materials

• Please find the official IVMS101 guide by InterVASP Here.
• Please refer to the json schema and examples here .
• CodeVASP Github

1-2. Formatting Rules

• Field names in the message should be written in camelCase, starting with a lowercase letter.
• However, entities defined in IVMS101—namely Originator, Beneficiary, OriginatorVASP, and BeneficiaryVASP—should be written in PascalCase.
• All field values are case-insensitive unless otherwise specified.
• All field values must be expressed as UTF-8 encoded strings, including booleans, integers, and floats.
• English should be used for all field values, unless Korean is explicitly allowed.

1-3. IVMS101 Version

IVMS101 has been updated once since its release, resulting in two versions:

• IVMS101.2020: Initial version
• IVMS101.2023: Updated in 2024 Currently, all global Travel Rule solutions universally adopt IVMS101.2020, and all of CodeVASP's guide content is based on this version. Using different versions of the IVMS101 protocol between VASPs can disrupt communication. To ensure proper functionality, always adhere to the instructions outlined in the documentation when implementing.

2. IVMS101 Type

• IVMS101 is described object by object to guide the construction of the payload.

IVMS101 as an originator VASP

As an originator VASP, you need to send following to beneficiary VSAP. You should know the entityId of beneficiary from CodeVASP, however, you still do not know their VASP information, thus, only send following objects.

{ 
  "ivms101" : {  
    "Originator": {...},  
    "Beneficiary": {...},  
    "OriginatingVASP": {...}  
  }
}

IVMS101 as a beneficiary VASP

When beneficiary VASP response to originator, it should complete the IVMS101 format as following.

• You may also include more Beneficiary information in Beneficiary Object such as customerIdentification.

{ 
  "ivms101" : {  
    "Originator": {...},  
    "Beneficiary": {...},  
    "OriginatingVASP": {...},
    "BeneficiaryVASP": {...}                   
  }
}

2-0. ivms101

Name	Required	Type	Description
Originator	Required	Originator	An object that contains the information of the user sending the virtual asset.
Beneficiary	Required	Beneficiary	An object that contains the information of the user receiving the virtual asset.
OriginatingVASP	Required	OriginatingVASP	An object that contains the information of the VASP sending the virtual asset.
BeneficiaryVASP	Optional	BeneficiaryVASP	An object that contains the information of the VASP receiving the virtual asset.

2-1. Originator

• Details associated with the identity information of the sender (the person sending the virtual asset).

Name	Required	Type	Description
originatorPersons	Required	array<Person>	An object designed to hold the information of the sender.
accountNumber	Required	array<String>	The wallet address of the user sending the asset. If a tag or memo value is required, it should be appended using ':' as a separator.

2-2. Beneficiary

• Details associated with the identity information of the recipient (the person receiving the virtual asset).

Name	Required	Type	Description
beneficiaryPersons	Required	array<Person>	An object designed to contain the information of the recipient.
accountNumber	Required	array<String>	The wallet address of the user receiving the asset, with a tag or memo value appended using ':' as a separator if required.

2-3. OriginatingVASP

• Information about the Virtual Asset Service Provider (VASP) on the sender's side.

Name	Required	Type	Description
originatingVASP	Optional	Person	An object designed to hold the information of the sending VASP.

2-4. BeneficiaryVASP

• Information about the Virtual Asset Service Provider (VASP) on the recipient's side.

Name	Required	Type	Description
beneficiaryVASP	Optional	Person	An object designed to contain the information of the receiving VASP.

2-1-1. Address

• Information representing the geographical address of an individual or a corporation.

Name	Required	Type	Description
addressType	Required	AddressTypeCode	An object that represents the type of address.
townName	Required	String	City name
country	Required	CountryCode	Country of residence
department	Optional	String	Department of a large organization or building
subDepartment	Optional	String	Sub-department of a large organization or building
streetName	Optional	String	Street name
buildingNumber	Optional	String	Building number
buildingName	Optional	String	Building name
floor	Optional	String	Floor
postBox	Optional	String	Post box
room	Optional	String	Room number
postcode	Optional	String	Zip code, Postal code
townLocationName	Optional	String	Name of a specific location within a city
districtName	Optional	String	District
countrySubDivision	Optional	String	Division within a country
addressLine	Optional	array<String>	Detailed address

2-1-2. AddressTypeCode

• A code used to identify the classification or type of an address.

Code	Name	Description
HOME	Residential	Address is the home address.
BIZZ	Business	Address is the business address.
GEOG	Geographic	Address is the unspecified physical(geographical) address suitable for identification of the natural or legal person.

2-1-3. CountryCode

• Two-letter country code determined by ISO-3166-1 alpha-2. e.g.) KR, JP, US, etc.
• https://www.iso.org/obp/ui/#search

2-1-4. DateAndPlaceOfBirth

• Information regarding the date of birth and place of birth.

Name	Required	Type	Description
dateOfBirth	Required	Date	Date of birth
placeOfBirth	Required	String	Place of birth

2-1-5. LegalPerson

• Information about a corporation.
• Either geographicAddress or nationalIdentification is mandatory.

Name	Required	Type	Description
name	Required	LegalPersonName	An object containing the official name information of a corporation.
geographicAddress	Optional	array<Address>	An object containing the address information of a corporation.
customerIdentification	Optional	String	A unique number assigned by a VASP to identify a corporation as a customer.
nationalIdentification	Optional	NationalIdentification	An object containing numbers such as the corporate registration number and tax identification number, used for official identification of a corporation.
countryOfRegistration	Required	CoununtryCode	Country of registration

2-1-6. LegalPersonName

• Information related to the name of the corporation.

Name	Required	Type	Description
nameIdentifier	Required	array<LegalPersonNameID>	An object that can include one or more names, such as legal names, trade names, etc.
localNameIdentifier	Optional	array<LocalLegalPersonNameID>	An object containing the name of the corporation in the local language.
phoneticNameIdentifier	Optional	array<LocalLegalPersonNameID>	An object containing phonetic names based on pronunciation.

2-1-7. LegalPersonNameID

• Information for specifically identifying the name of the corporation.

Name	Required	Type	Description
legalPersonName	Required	String	The name of the corporation as used in legal documents or official registrations.
legalPersonNameIdentifierType	Required	LegalPersonNameTypeCode	An object representing the type of corporation name.

2-1-8. LegalPersonNameTypeCode

• A code used to distinguish the types of corporation names.

Code	Name	Description
LEGL	Legal name	Official name under which an organisation is registered.
SHRT	Short name	Specifies the short name of the organisation.
TRAD	Trading name	Name used by a business for commercial purposes, although its registered legal name, used for contracts and other formal situations, may be another.

2-1-9. LocalLegalPersonNameID

• Information expressing the name of the corporation in the local language of the region or country where the corporation is located.

Name	Required	Type	Description
legalPersonName	Required	String	The name of the corporation in the local language.
legalPersonNameIdentifierType	Required	LegalPersonNameTypeCode	An object representing the type of the corporation's name.

2-1-10. LocalNaturalPersonNameID

• Information for identifying an individual's (natural person's) name according to the local region or language.

Name	Required	Type	Description
primaryIdentifier	Required	String	Enter the last name (surname), and if it cannot be separated, indicate the surname and first name in order together.
secondaryIdentifier	Optional	String	Enter the first name, and if it cannot be separated, omit it.
nameIdentifierType	Required	NaturalPersonNameTypeCode	An object that represents the type of name., Default: 'LEGL'(=Legal)

2-1-11. NationalIdentification

• Information about a unique identification number or code used to identify an individual.

Name	Required	Type	Description
nationalIdentifier	Required	String	A unique identification number for an individual or corporation.
nationalIdentifierType	Required	NationalIdentifierTypeCode	An object representing the type of identification number.
countryOfIssue	Optional	CountryCode	The country where the identification number was issued. (only used with 'naturalPerson')
registrationAuthority	Optional	RegistrationAuthority	- An object containing information about the institution that issued the identification number. -Used only when the value of 'nationalIdentifierType' is not 'LEIX'.

2-1-12. NationalIdentifierTypeCode

• A code used to distinguish the types of an individual's national identification number.

Code	Name	Description
ARNU	Alien registration number	Number assigned by a government agency to identify foreign nationals.
CCPT	Passport number	Number assigned by a passport authority.
RAID	Registration authority identifier	Identifier of a legal entity as maintained by a registration authority.
DRLC	Driver license number	Number assigned to a driver's license.
FIIN	Foreign investment identity number	Number assigned to a foreign investor(other than the alien number).
TXID	Tax identification number	Number assigned by a tax authority to an entity.
SOCS	Social security number	Number assigned by a social security agency.
IDCD	Identity card number	Number assigned by a national authority to an identity card.
LEIX	Legal Entity Identifier	Legal Entity Identifier (LEI) assigned in accordance with ISO 174421
MISC	Unspecified	A national identifier which may be known but which cannot otherwise be categorized or the category of which the sender is unable to determine.

2-1-13. NaturalPerson

• Information that can clearly identify an individual (natural person), such as identification information, address, national identification number, etc.

Name	Required	Type	Description
name	Required	NaturalPersonName	An object designed to contain name information.
dateAndPlaceOfBirth	Optional	DateAndPlaceOfBirth	An object designed to contain information about the date of birth and place of birth.
customerIdentification	Optional	String	An identifier (UID or IDX) assigned by a VASP to distinguish users.
countryOfResidence	Optional	CountryCode	Information about the country of residence.

2-1-14. NaturalPersonName

• Information regarding the name of an individual (natural person).

Name	Required	Type	Description
nameIdentifier	Required	array<NaturalPersonNameID>	An object for entering the legal name. When transacting between domestic VASPs, enter in Korean, and when transacting with foreign VASPs, enter in English.
localNameIdentifier	Optional	array<NaturalPersonNameID>	An object for providing the Local name additionally when transacting with foreign VASPs.
phoneticNameIdentifier	Optional	array<NaturalPersonNameID>	An object containing phonetic names based on pronunciation.

2-1-15. NaturalPersonNameID

• Specific identification information regarding the name of an individual (natural person).

Name	Required	Type	Description
primaryIdentifier	Required	string	Enter the last name (surname), and if it cannot be separated, list the surname and first name together in order.
nameIdentifierType	Required	NaturalPersonNameTypeCode	An object that represents the type of name., Default: 'LEGL'(=Legal)
secondaryIdentifier	Optional	string	Enter the first name, and if it cannot be separated, omit it.

2-1-16. NaturalPersonNameTypeCode

• A code used to distinguish the types of an individual's (natural person's) name.

Code	Name	Description
ALIA	Alias name	A name other than the legal name by which a natural person is also known.
BIRT	Name at birth	The name given to a natural person at birth.
MAID	Maiden name	The original name of a natural person who has changed their name after marriage.
LEGL	Legal name	The name that identifies a natural person for legal, official or administrative purposes.
MISC	Unspecified	A name by which a natural person maybe known but which cannot otherwise be categorized or the category of which the sender is unable to determine.

2-1-17. Person

• Information used to distinguish individuals or natural persons involved in a transaction.Either naturalPerson or legalPerson is mandatory.

Name	Required	Type	Description
naturalPerson	Optional	NaturalPerson	An object designed to set information about an individual.
legalPerson	Optional	LegalPerson	An object designed to set information about a corporation.

2-1-18. RegistrationAuthority

• An 8-digit code representing the corporate registration authority.
• Type: Text
• Format: RA000099
• Entire list of code can be found here: https://www.gleif.org/en/about-lei/code-lists/gleif-registration-authorities-list (There is Excel file at the end of the page.)

2-5. Example

• Json Schema
• Complete Example - Natural Person
• Complete Example - Legal Person