Ethfinex, the Ethereum based token trading exchange today announced a partnership with Blockpass, a data-secure user identity and compliance solution to enable compliant user participation in token sales which are hosted on Ethfinex. Blockpass is a digital identity application and service that brings control of data back to the user.
Blockpass provides a streamlined and cost-effective user onboarding process for regulated industries and any kind of online service. From the Blockpass application, users can create, store and manage their data-secure digital identity, which can be used to access an entire ecosystem of services or for token purchase.
“We are delighted to be able to announce our partnership with Ethfinex. Blockpass is designed to help users deal with the inefficient and tedious process of complying with KYC, whilst also providing a user-centric and regulatory compliant solution. Through our partnership with Ethfinex, we see Blockpass helping a great many people to safely take back control of their data, and we can remove some of the pain-points involved with investing in promising ICO projects.”
Ethfinex seeks to provide direct access to pre-vetted token sales for users in an environment that mitigates some of the risks associated with existing ICO contribution methods. A spin-off of Bitfinex, Ethfinex offers a hybrid trading solution for token trading, where users can face the liquid order books of Bitfinex and Ethfinex, but without surrendering control of their digital assets or funds. Ethfinex offers the best of all worlds – high speed, liquid trading without compromising on security or privacy.
Through the partnership, Blockpass will be integrated into Ethfinex, allowing registered users of Ethfinex to download the Blockpass app, complete KYC and submit this to Ethfinex by scanning a QR code. Once a profile is approved and meets the requirements of Ethfinex, the user will be able to participate in any number of ICOs provided on the Ethfinex platform without having to go through the KYC process again.
“We are very excited to be working with Blockpass and to integrate their user-centric KYC service into our token sale offering. Blockpass gives our users an easy and quick way of managing their personal KYC data, whilst at the same time allowing us to manage the approval process for different token sales and token issuers in a secure and compliant manner.”
The two companies are also discussing opportunities to further improve and streamline the trading process through collaboration in other mutually beneficial areas.