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Security token platform Polymath teams up with blockchain-based digital ID startup Blockpass

Mon, 17 Jun 2019, 06:45 am UTC

Security token platform Polymath has entered into a strategic collaboration with digital identity verification solution Blockpass for a streamlined identity verification solution.

Through this partnership, Polymath, a decentralized platform that makes it easy to create and manage security tokens, aims to simplify user onboarding and cut down on the required resources in the process.

"We are very excited to announce our collaboration with Blockpass," said Kevin North, CEO of Polymath. "This represents our continued efforts to provide Polymath issuers with access to best-in-class KYC solutions like Blockpass."

Blockpass is a regtech and compliance platform which leverages blockchain technology and smart contracts and provides digital ID verification as a service. It is creating an ecosystem of pre-verified customers for easy and seamless customer onboarding for any regulated business and industry.

In its press release, Blockpass said that its portfolio of KYC Connect products allows businesses to “implement the right solution for their needs through the use of an API.”

The strategic collaboration with Polymath will see Blockpass listed as a KYC provider on the Polymath Service Provider Marketplace.

"This partnership is the latest step we have taken to streamline the painstaking and cumbersome process of onboarding investors. There are many synergies between Polymath's proposition and our own, in that we are both striving to create simplified and compliant solutions,” Adam Vaziri, Blockpass CEO said.

Blockpass has forged a number of partnerships this year, including Waves, Tokenomica, the BBFTA and Ethfinex.

Last month, Polymath, in collaboration with Ethereum and Cardano co-founder Charles Hoskinson, announced plans to build the world’s first security token blockchain, Polymesh. Previously, seriesOne, a digital securities fundraising platform, partnered with Polymath to simplify the complex challenges involved in creating and managing security tokens.

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