The Swiss blockchain firm trade.io has revealed that it has agreed on a strategic partnership with the SelfKey. Trade.io intends to launch its own digital currency exchange soon. In teaming up with SelfKey, trade.io wants to ensure that the registration procedure of its exchange is done efficiently.
The Swiss company reported that its investors wanted the exchange’s registration system to be easy. The company had carried out a polling process. They said investors want a registration devoid of security delays or a cumbersome verification procedure. This will ensure that when a user wants to trade he/she will not have to wait for the exchange’s administration to verify one’s documents.
Trade.io is a blockchain based financial organization that focuses on selling a wide range of assets. It runs a peer-to-peer regulated trading network.
Self-sovereign identity system
SelfKey is a self-sovereign identity system that uses blockchain technology. It enables companies and people to freely and privately own their digital identities. The company’s network enables investors to operate their own digital currency portfolios. It also enables the traders to access immigration, financial, and digital currencies services.
The CEO of trade.io, Jim Preissler said that his company was pleased to partner with SelfKey as their KEY token has traded over $1 billion in volume in the last week. He went on to say that they feel that SelfKey’s approach to self-sovereign identity is secure, efficient, and will integrate well with trade.io’s exchange.
Re-use customers details
SelfKey’s identity system will ensure trade.io’s users do not undergo a tedious verification process. All users need to do is provide any KYC (know your customer) details on SelfKey’s network. Information such as names, IDs, one’s proof of address and so on.
Afterward, once a trader authorizes the system will reuse the details and fill forms automatically. It will then post copies of the documents to trade.io’s network. The platform will have already verified the user’s identity.
The Swiss blockchain company is also preparing to list KEY which is SelfKey’s coin, on its exchange once it is launched. The firm intends to announce an airdrop in the coming days.