Crypto platform Crix promises frictionless onboarding with Yoti biometric digital identity tech
Cryptocurrency index and exchange platform Crix has integrated digital identity app Yoti to simplify the know-your-customer (KYC) process and frictionless customer onboarding with biometrics, the company announced.
In less than five minutes, Yoti says, its technology turns a physical government ID and biometric data into a secure digital identity. The biometric solution can be applied to government IDs from more than 170 countries and works with both Android and iOS systems.
Yoti’s facial recognition technology will help Crix verify customer identity, perform anti-money laundering (AML) checks, and uses 256-bit encryption to ensure a private and secure method of confirming identity with customers no longer having to show paper IDs.
“The Crix exchange is first in-class for security, speed, and full compliance to protect our customers,” said Crix founder and CTO Dmitry Koval. “We are excited to partner with Yoti for our KYC needs, allowing our customers to have industry leading signup speeds and secure access to their trading experience. Adding this capability along with our algorithmic trading bots will make Crix a must-use tool for any crypto trader.”
Users are in full control of their personal data and have to consent to data sharing before any information is processed. They are always informed about who has access to what information, and their full identity is kept private to prevent identity fraud.
In October, Yoti announced it was integrating its biometric facial recognition with blockchain technology from LedgerState and Galaxkey’s data protection platform, after partnering with digital identity and access management platform ForgeRock in September.