Anonyome and cheqd to monetize VCs with decentralized digital identity

Decentralized payments meet digital identity with Verifiable Credentials. That’s the partnership between cheqd and Anonyome Labs, which promises integration between the former’s decentralized identity and on-chain payment capabilities with the latter’s Verifiable Credentials.

“cheqd’s on-chain payment rails further enhance the value of Anonyome Labs’ Verifiable Credential offerings by unlocking new revenue models for credential issuers,” says JD Mumford, Anonyome Labs CEO. “For the first time, organisations can generate direct value for their role in the digital identity ecosystem by charging for credentials they issue.”

The partnership looks to establish a trusted, scalable foundation for issuing, verifying and monetizing digital credentials. Anonyome Labs’ Verifiable Credentials software will combine with cheqd’s decentralized identity stack, enabling individuals and organizations to receive credentials. via personal or enterprise wallets, and share them securely and privately with any relying party.

“The future of digital identity must be commercially sustainable to thrive,” says Fraser Edwards, co-founder and CEO of cheqd. “By introducing monetization models for credential issuers, we’re proving that privacy and profit can go hand-in-hand.”

“This partnership is a major step towards that future,” Edwards continues. “Moreover, developers no longer have to choose between privacy and functionality.”

Anonyome Labs’ SDKs, APIs and white-label apps promise “easy to build and deploy” digital identity features, according to the U.S. company, which released a new version of its mobile wallet SDK for decentralized digital identity in January. Anonyome’s VCs have also been built into a digital wallet for New Zealand farmers to support decentralized digital identity in collaboration with Indicio.

Article Topics

Anonyome  |  cheqd  |  decentralized finance  |  decentralized ID  |  digital identity  |  verifiable credentials