trade.io Teams Up with Blockchain-Based Identity Platform Civic

trade.io, a provider of innovative crypto solutions, has teamed up with US-based startup Civic ‎Technologies to employ its digital identity platform that leverages ‎blockchain‎ capabilities to deliver faster KYC verification for the users of trade.io ‎ecosystem.‎

To meet fast-growing identification demand, the new partnership gives trade.io‎ the power to authenticate‏ ‏its users’ ‎identities and verified credentials. It provides a trusted interface to qualify ‎clients for the liquidity pool and trade.io exchange‏ ‏whilst handing control ‎back to the user. ‎

Once Civic authenticates the identity of its app subscriber and takes a ‎cryptographic hash of all the information, trade.io ‎will no longer need to ‎store its clients’ data for identification or authentication purposes. ‎This also helps reduce the time to onboard users in an AML-compliant manner.‎

trade.io’s use of Civic’s services takes the buildup of its international ‎expansion ‎one step further. Strong and reliable digital identity is essential for the company’s ‎initiatives in regulated jurisdictions to ‎thrive, as well as improving the functionality and governance of ‎‎its blockchain solutions.‎

Trade.io is a disruptive solution that aims to leverage the full potential of ‎blockchain technology to create a peer-to-peer trading platform for crypto ‎assets. Furthermore, it plans to subsequently introduce forex and CFDs for ‎precious metals, oil, commodities, indices, global equities and more.‎

The company is currently in the midst of a successful ICO in ‎which ‎$18.2‎ million has so far been ‎raised from over 7,000 backers, out of an expected ‎total of $135 million.‎

Last week, trade.io has entered into a memorandum of understanding to ‎negotiate the ‎terms for the acquisition of a New York City based ‎broker/dealer.‎

Commenting on the partnership, CEO Jim Preissler remarked: “In the ‎world of finance there is a delicate balance between being AML compliant, ‎but also providing your customer an efficient, scalable solution to make sure ‎they’re accessing our platform, and trading in a short amount of time. After ‎extensive vetting, we were happy settling upon Civic who is without question ‎the leader in this field.”‎

Civic CTO, Jonathan Smith, added: “We were intrigued with trade.io’s ‎experience in the industry and approach to ensuring compliance and ‎adhering to regulatory matters. We are looking forward to a long mutually ‎beneficial relationship with trade.io.”

(Photo: facebook)

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