Blockpass IDN limited is making strides in the space of digital identity with its most recent partnership being IDEX. The two entities are set to work together towards improving network security for their clients.
The IDEX decentralized platform is designed to accommodate ERC20 tokens notably Ethereum. These digital assets are structured in trading pairs that give interested clients a variety of options. Furthermore, IDEX leverages smart contracts to protect its users while facilitating speedy transactions based on the Ethereum network.
Blockpass on the other hand seeks to enable efficient on-boarding of new token users through the fundamentals of digital identity. The platform’s structure provides for an avenue of user registration at minimal costs and secure data storage. Basically, clients can use the data for on-boarding processes in other digital exchanges as Blockpass assures compliance with KYC and AML.
This working relationship by Blockpass and IDEX is a starting step for both entities in the world of blockchain and token compliance.
Over the recent years, this sector has been a target for regulatory authorities and some governments in a bid to protect their investors. However, it is evident that the crypto market only gets better hence the initiative to improve the fundamentals of digital identity by IDEX and Blockpass.
Adam Vaziri, the current CEO of Blockpass, said that the partnership is a mile for Blockpass in its objective of integrating KYC and AML to blockchain and crypto based businesses globally. He added that they look forward to work with IDEX in this endeavour.
Similar sentiments were echoed by IDEX CEO, Alex Wearn, who acknowledged the efficiency Blockpass brings to digital identity. He noted that the verifications would now be easier given a single source of immutable data and a one-time KYC process to access multiple platforms.
The success of Blockpass is evident from its past partnerships, most of which were initiated less than a year ago. Today, the firm prides itself having partnered with major players like Infinito, Ethecal and Ethfinex who leverage the KYC services to on-board new users.