{"id":48626,"date":"2023-04-27T18:49:19","date_gmt":"2023-04-27T22:49:19","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=48626"},"modified":"2023-04-27T20:04:20","modified_gmt":"2023-04-28T00:04:20","slug":"neobank-launches-soulbound-nfts-for-kyc-data-of-wallet-holders","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/neobank-launches-soulbound-nfts-for-kyc-data-of-wallet-holders\/","title":{"rendered":"Neobank launches soulbound NFTs for KYC data of wallet holders"},"content":{"rendered":"\n

Neobank, situated in New York, aims to enhance the experience of cryptocurrency users by combining Web3 features and digital banking<\/a>.<\/p>\n\n\n\n

\"Neobank
Neobank launches soulbound NFTs for KYC data of wallet holders<\/figcaption><\/figure>\n\n\n\n

Holders of its cryptocurrency wallet<\/a> will soon be able to get soulbound nonfungible tokens holding Know Your Customer (KYC) data from the Neobank Cogni. <\/p>\n\n\n\n

The bank's “Web2” KYC verification of customers' identities completed at account opening will be transferred into a Web3 environment by the Polygon-based NFT.<\/p>\n\n\n\n

Cogni launched its noncustodial multichain crypto wallet in January and has coverage from the United States Federal Deposit Insurance Corporation via a conventional New York bank. In the wallet, users can transmit, receive, and retain bitcoins and NFTs. <\/p>\n\n\n\n

The non-transferable soulbound NFT is optionally mintable by users, and with their consent, decentralized applications\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> (DApps) can then unlock it. The goal of the bank is to enhance the user experience. Archie Ravishankar, the founder and CEO of Cogni, said: <\/p>\n\n\n\n

\n

\u201cThe reason why the crypto-curious have not really been able to jump on the decentralization bandwagon is, one, obviously, the user experience. The second is trust in the ecosystem.\u201d<\/p>\n<\/blockquote>\n\n\n\n

\u201cEverybody knows how to use digital banking,\u201d however, Ravishankar added. The crypto wallet is available \u201cin the course of the normal banking experience.\u201d<\/p>\n\n\n\n

The “bank-level” KYC data on the NFT satisfies American KYC regulations and will be made available to partnered DApps without further work. In a few clicks, users will be able to connect to a marketplace of DApps, including those that do KYC verification, according to Cogni.<\/p>\n\n\n\n

\n

Cogni: The challenger bank supported by Barclays wants to disrupt financial services 2020 https:\/\/t.co\/fkVVab7W77<\/use><\/svg><\/span><\/a> pic.twitter.com\/yMaSFwdQj9<\/use><\/svg><\/span><\/a><\/p>— enivicivokke (@CoinnewsB) March 11, 2020<\/use><\/svg><\/span><\/a><\/blockquote>

After large cryptocurrency companies went bankrupt during the crypto winter, trapping consumer funds in their custodial wallets, the use of non-custodial wallets has increased. The Cogni soulbound NFT<\/a> will initially be accessible to a small number of users before becoming widely accessible in the summer.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":43,"featured_media":48628,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[62,11409,9619],"tags":[7236,961,470],"class_list":["post-48626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft-news","category-nfts","category-web3-news","tag-neobank","tag-kyc","tag-nfts"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/04\/croc_1682633402742.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/48626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=48626"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/48626\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/48628"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=48626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=48626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=48626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}