HONG KONG, Feb 17, 2023 – (ACN Newswire) – A new partnership, between digital identity verification provider Blockpass and Avalanche, a high-performance smart contracts platform, is revealed today as both companies seek to further the safety, security and capabilities of the blockchain ecosystem. As part of this partnership, Blockpass will be integrated with Avalanche for KYC and AML verification. Through this, Avalanche will also enjoy Blockpass’ new feature that allows users to certify their ownership of their digital wallets, providing a market suitable for Unhosted Wallets thanks to Blockpass’ Unhosted Wallet KYC.
Avalanche is a high-performance, scalable, customizable, and secure blockchain platform which enables the building of application-specific blockchains for both private and public blockchains. The Avalanche platform facilitates the creation and launching of highly scalable decentralized applications and complex digital assets with custom rules, covenants, and riders. With these smart assets and scalable Dapps, Avalanche provides a low-cost and eco-friendly platform for the creation, transfer, and trade of digital assets.
Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. Through Blockpass, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services, token purchases and access to regulated industries. For businesses and merchants, Blockpass is a comprehensive KYC & AML SaaS that requires no integration and no setup cost. You can set up a service in minutes, test the service for free and start verifying and on-boarding users. Currently, with around one million verified user identity profiles, Blockpass facilitates instant onboarding, and to date over a thousand businesses have taken advantage of this opportunity to get access to users, including those with unhosted wallets and reusable digital identity profiles.
“Since the conception of Blockpass the digitization of assets has been one of our goals and we’re excited to be working together with Avalanche to further the development of blockchains, decentralized apps and smart assets,” said Blockpass CEO Adam Vaziri. “We started with the verification of human identity to enable both regulatory compliance and the provable ownership of digital assets; we’re pleased that we can work with Avalanche to expand this and to provide our Unhosted Wallet KYC solution.”
Blockpass has grown significantly in size and use since its inception, both in the number and range of users and organizations it has partnered with and the scope of its work. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. The existential need for DeFi projects to be regulatory compliant and the recent integrations and legal developments have led to a surge in interest for Blockpass’ On-chain KYC(R), the only live zero knowledge solution for Crypto KYC, and Unhosted Wallet KYC solution finally enabling blockchains and DeFi platforms to have a compliance layer. Through its work with Animoca Brands from early 2022, Blockpass provides a zero knowledge KYC service where the delivery of the verification result is provably sent and shown on a blockchain without sharing the underlying data. This represents a significant step towards the future Blockpass hopes to bring about where identity verification can be proved without revealing any personal information at all.
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Don’t believe it? Try Avalanche today.
About Ava Labs
Ava Labs is a team that makes it easy to launch decentralized finance (DeFi) applications on Avalanche, the fastest smart contract platform in the blockchain industry. Empowering people to easily and freely digitize all of the world’s assets on one open and programmable blockchain platform, Ava Labs was founded by computer scientists from Cornell University, who brought in talent from Wall Street. The company is funded by Andreessen Horowitz, Initialized Capital and Polychain Capital, with angel investment from Balaji Srinivasan and Naval Ravikant. https://www.avalabs.org/
Blockpass is building trust in the Crypto Economy by providing….
- A home for all your Crypto KYC needs – KYC & AML for DeFi, exchanges & blockchains, Travel Rule provision for regulated VASPs, and blockchain forensics.
- A decentralized network of around one million crypto enthusiasts with portable KYC profiles and around one thousand business customers.
- The fastest, most affordable, fully stacked KYC & AML screening in the Crypto sector.
- The first and only KYC & AML “Crypto Travel Rule” solution for unhosted wallets.
In 2021, Blockpass was invited to enter the Cohort 7 of the UK Financial Conduct Authority Sandbox to pilot our solutions for the UK market. Blockpass also introduced the On-chain KYC solution that enables customers to access zero-knowledge verification of users so they can access provably completed verifications and adhere to standards without seeing the underpinning data. In 2022, Animoca Brands and Yuga Labs utilized On-chain KYC when they verified over 150,000 users in the $320 million Otherside NFT sale – the largest to date in Crypto sector history.
Topic: Business Tieup
Copyright © 2023 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.