Circle has launched Verite KYB logins, which can be protected in the MetaMask institutional wallet like digital assets. Eligible businesses will be granted free KYB and enable web apps, mobile apps, and smart contracts to receive. Identity-verified user benefits for allowed on-chain operations.
Verite is an open source framework for issuing, storing, and verifying information to prove identity in Web3 without exposing sensitive information. Verite credentials are privacy protected, portable, interactive and easily stored in a crypto wallet.
Unlike alternative approaches to digital identities that involve proprietary encryption or centralized approval mechanisms, Verite is decentralized, open source, and free for anyone to build.
“Using Verite to build an open network for decentralized identity is an important step toward bridging the compliance requirements of financial regulations with the Web3 ethos of decentralization, privacy preservation and user ownership.”Jeremy Allaire, Co-Founder and CEO of Circle said
Eligible businesses have direct control over how, when, and where their identity attributes are shared, and nothing is sent or stored on the identity data chain.
To be eligible for KYB credentials, businesses must have a Circle account and MetaMask institutional wallet.
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