Cryptocurrency exchange Binance recently launched a secure, frictionless login feature called Binance ID. This is a feature that ensures maximum crypto user protection and compliance through KYC verification.
In the recent announcement of the largest cryptocurrency exchange in the market announced a new feature called Binance ID powered by OAuth2, an industry standard protocol for authorization and verification on the Internet.
This new feature will assist Binance in its efforts to protect crypto users during the KYC process. According to the announcement, users can “sign in with Binance” with one click similar to Apple and Google login.
In addition, this feature can be integrated by other third-party applications and users can decide if the third-party application will be granted full or partial access to their data.
This announcement comes after the launch of the Binance Account Bound (BAB) token, which is a soulbound token used as proof of identity for Binance users who have completed their KYC verification.
The BAB tokens will serve as identity credentials and allow users to participate in initiatives from multiple projects on Binance. In addition, users can also participate in receiving the airdrop.
Currently, there are 14 projects in the BNB Chain ecosystem committed to providing benefits to BAB holders.
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