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Bitkub partners with Thailand’s NDID platform for crypto KYC

Bitkub partners with Thailand’s NDID platform for crypto KYC
 

Bitkub Exchange, a digital assets trading firm, has partnered with the National Digital Identity (NDID) platform in Thailand for digital know your customer (KYC) services.

Following the partnership, Bitkub has rolled out a digital identity verification system which went operational on September 15, according to an announcement.

The digital assets company says all users wishing to carry out ID verification on their platform using NDID must have completed a NDID verification process with an approved provider.

With the inclusion of the NDID for digital KYC by Bitkub, the crypto exchange trader now has a tow-step identity verification method for Thai citizens.

Commenting on the partnership, NDID General Manager Bunsan Prasitsamrit touted the system as reliable for online ID verification, be it for the opening of bank or digital assets accounts, as reported by News Directory3.

The official emphasized that “NDID does not store any personal information and complies with legal requirements to ensure secure transactions.”

Also commenting, Bitkub CEO, Atthakrit Chimphalapiboon, said the move speaks to the company’s unwavering commitment to providing satisfactory services to their customers while also complying with the new regulations in force.

“With NDID, we believe we can meet our customers’ needs and provide them with benefits. Firstly, customers will no longer need to visit other locations for identity verification. It can now be done instantly through our mobile application,” said Chimphalapiboon.

“Additionally, customers who have previously opened accounts with other service providers, such as banks, can directly transmit their information through NDID. They will no longer need to fill in all the information themselves. NDID serves as an additional identity verification channel that offers convenience to our customers.”

Phongsakorn Sutantayawalee, chief product officer at Bitkub, said the collaboration will bring trust to the platform as the NDID is connected to other entities such as banks which provide reliable information about their customers.

In a chat with Biometric Update early this year, the NDID General Manager explained the idea behind the blockchain-based digital ID system, saying it seeks to facilitate access to many services especially in the financial sector.

Mid this year, Thailand launched a mobile application dubbed ‘ThaID’ to facilitate identity verification for all online transactions.

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