Navigating the 'Travel Rule' with smaller crypto exchanges - a reality check

It's been a few years since the FATF's 'Travel Rule' came into play for VASPs, and while the big players like Coinbase and Binance have largely integrated solutions (albeit sometimes clunkily), I'm curious to hear about the practical realities for smaller or regional crypto exchanges. We often hear about the theoretical implementation of TRISA or OpenVASP, but when you're dealing with a firm that might only process a few hundred transactions a day, what's the actual lift like? Are they effectively using third-party solutions, or is there still a lot of manual back-and-forth for beneficiary info? It feels like a significant hurdle for smaller operations trying to stay compliant without breaking the bank on an enterprise-level solution that's overkill for their volume. Anyone working with these smaller entities, or even operating one, got some war stories or success stories to share? The devil's always in the details with these things.