Basic Attention Token to Implement KYC-free on-chain Payouts
The platform would enable on-chain BAT rewards without Know-Your-Customer (KYC), according to Basic Attention Token (BAT) founder Brendan Eich. He continues by saying that this advancement fits within BAT’s long-term vision, which intends to simplify rewards for Brave browser users while protecting their privacy. On-chain payouts are now available, which is a huge development for […]
Neobank launches soulbound NFTs for KYC data of wallet holders
Neobank, situated in New York, aims to enhance the experience of cryptocurrency users by combining Web3 features and digital banking. Holders of its cryptocurrency wallet will soon be able to get soulbound nonfungible tokens holding Know Your Customer (KYC) data from the Neobank Cogni. The bank’s “Web2” KYC verification of customers’ identities completed at account […]
Bybit to Introduce Mandatory KYC Requirements
Know Your Customer (KYC) identity verification will be mandatory for all products and services offered by cryptocurrency exchange Bybit. Users of Bybit who have not finished their KYC by May 8 can only “close existing open positions or orders, return loans, or withdraw,” according to an April 24 update. All future trade will be prohibited. […]
Everything You Need to Know About KYC In Crypto
In order to identify and confirm a customer’s identification when a financial institution (FI) onboards them, KYC procedures are put in place. In this article, we will walk you through the need for KYC in Crypto and why it is important. Through KYC procedures, FIs may determine a customer’s risk profile based on their susceptibility […]
DeFi glossary: Most popular terms you should know in DeFi
DeFi is redefining the standards of what we anticipate from finance, and for beginners, grasping the entire lexicon of DeFi terms may be rather difficult. To make it easier, we have simplified them down into simple terms. What is DeFi? DeFi is a developing industry that enables participants to conduct financial transactions without using a […]