Seoul, South Korea, 14th November, 2022, Chainwire
ARGOS ID is delighted to introduce the world’s first Journey Rule answer for crypto wallets. The service brings full protection on verifying unhosted wallets which digital asset service suppliers(VASPs) discover difficult within the present stage.
As of the FATF steering on verifying the originator and beneficiary info on digital asset transactions, realizing the identities of the crypto pockets holders have been required. With the intention to adjust to the FATF’s steering relating to unhosted wallets, jurisdictions have began making use of enforcement and supervisory measures to native VASPs.
To jurisdictions in search of a simplified Journey Rule answer, particularly for private crypto wallets, ARGOS ID performs a key position. ARGOS ID brings the next advantages to VASPs:
Straightforward connection to unhosted wallets
With ARGOS ID, crypto pockets holders can simply confirm the data of their a number of crypto wallets. Making a crypto pockets is finished with out submitting any private info. With the intention to confirm the holder of the crypto pockets, it’s essential to confirm the identification info of the pockets holder. ARGOS ID helps on figuring out the unhosted pockets customers to each the originator and the beneficiary.
After the creation of the ARGOS ID customers can hook up with a number of crypto wallets akin to MetaMask, Phantom, WalletConnect, and extra with only a one-time identification verification course of(KYC).
Digital ID appropriate for Internet 3 surroundings
ARGOS ID supplies a really perfect surroundings the place people can handle info by themselves. It’s appropriate for the Internet 3 surroundings as ARGOS ID customers can resolve which info to delete or revise after finishing crypto pockets verification. Data contains SNS login, verified crypto pockets, and pictures submitted for ID and selfie in the course of the KYC. The proprietor of the pockets can handle his or her private info as ARGOS ID is a self-sovereign digital ID.
Simplified process for verifying a number of private wallets
Join a number of crypto wallets with one-time KYC (Know Your Buyer). The KYC course of have to be accomplished after creating ARGOS ID. Presently, ARGOS ID helps 5 blockchain networks – Ethereum, Solana, Binance Sensible Chain, Polygon, and Klaytn – and extra can be added sooner or later.
Put up creating ARGOS ID with social login, KYC is carried out. As soon as KYC is accomplished, a number of crypto wallets akin to MetaMask, Phantom, and WalletConnect can get related and verified by way of ARGOS ID.
Digital asset transactions obtainable to the Third Get together
ARGOS ID lets digital asset transactions be doable for a 3rd social gathering, which suggests sending the digital asset to non-VASP clients can also be doable. For instance, when a VASP buyer needs to ship digital belongings to a 3rd social gathering, an individual who shouldn’t be a VASP buyer, ARGOS ID may also be utilized. Crypto pockets verification is accessible with ARGOS ID to each VASP clients and non-customers.
As soon as each crypto wallets are verified, exchanging digital belongings between clients and non-customers turns into doable. As each the sender’s crypto pockets and the receiver’s pockets have been verified together with KYC, it’s anticipated to alleviate the inconvenience of quite a few digital asset exchanges within the present stage.
ARGOS ID is a digital ID appropriate for the Internet 3 surroundings. Apply ARGOS ID options to your service because it helps you in assembly regulatory compliance on sending and receiving digital belongings. Safely safe the required sender’s and receiver’s info with ARGOS ID. With easy API and Internet SDK, get ARGOS ID in your service prepared with none delay. Expertise the easy, quick, and simple integration.
ARGOS has began the enterprise aiming to supply seamless KYC. With the arrival of Internet 3 and the rise within the crypto trade, ARGOS has expanded its enterprise into ARGOS ID. ARGOS ID goals at offering a Journey Rule answer for verifying unhosted wallets. Make Unhosted Wallets Compliant.
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Jieun Lina Kim