On Wednesday, trade.io, a Swiss blockchain company, announced that it has finalized a strategic partnership with SelfKey, a blockchain-based self-sovereign identity system. With the help of SelfKey, trade.io wants to streamline the registration process for its upcoming cryptocurrency exchange.
According to the statement, trade.io polled its community and found that investors want its exchange to have an easy registration system. This includes no security and back office delays.
To combat this, traders can upload their know your customer (KYC) details to the SelfKey platform. This includes documents such as passports, government-issued identification cards and bills that can be used to verify your identity.
SelfKey is an identity system based on blockchain that allows individuals and companies to control their digital identity. The platform provides traders with the ability to manage their cryptocurrency portfolio and onboard onto financial, immigration and cryptocurrency services.
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Once the information is uploaded to the platform, SelfKey will verify your identity. Following this, with the consent of investors, it will reuse this information to automatically fill forms and upload copies of documents to the trade.io exchange.
SelfKey Token listing
In addition, trade.io is also planning to list the SelfKey Token (KEY) on its upcoming exchange. According to the statement, the company will be announcing an airdrop soon.
Commenting on the partnership, Jim Preissler, CEO of trade.io said: “We are pleased to partner with SelfKey as their KEY token has traded over 1 billion dollars in the last week, and we feel their approach to Self Sovereign identity is secure, efficient, and will integrate perfectly with our exchange.”
Edmund Lowell, Founder, SelfKeyal added: “We are pleased to announce our partnership with trade.io as they are one of the most promising new exchanges of 2018.”
trade.io is a financial institution based on blockchain technology which sells a number of products. One of the most recent additions is the ‘Blockchain Trade Verifier’, software which traders can use to see if their foreign exchange broker is lying to them about data.