Resonate partners with Kinto

Published on: 28.01.2024
Resonate partners with Kinto

Resonate partners with Kinto, a Layer 2 (L2) rollup leveraging Arbitrum Nitro technology and settles on the Ethereum Mainnet with a primary focus on ensuring user safety and fortifying financial applications. Its comprehensive approach includes default integration of KYC, insurance, AML, and fraud monitoring at the blockchain level.

Enhancing Security with Kinto’s KYC Check and Streamlined User Experience

To ensure a secure environment, Kinto requires Know Your Customer (KYC) checks for participants. Transactions are limited to verified users, and Personally Identifiable Information (PII) is safeguarded by user-selected identity providers and managed by governance. Kinto offers a hassle-free user experience, granting access to crypto financial services sans browser extensions or private key storage, all thanks to its native account abstraction.

Exploring the Key Features of Kinto

Kinto is a platform that places great emphasis on enforcing KYC and AML protocols, while also offering built-in insurance, default revenue sharing, on-chain governance, and a targeted focus on financial use cases. The KYC process is facilitated through a unique NFT smart contract named Kinto ID, which is backed by identity nodes and KYC providers.

Kinto prioritizes user privacy and does not store user data without permission. Access to personal data is granted only when allowed by the user. Kinto ID, an NFT-based gateway, serves as the starting point for all users, while KYC providers handle lost or stolen identity protocols. Identity nodes, with open-sourced code, manage Kinto ID NFTs, AML & KYC updates, and stolen identity or lost wallet incidents. This secure framework benefits both users and developers.

In what ways can Kinto bring value to both the Revest ecosystem and Resonate users?

  • Network-wide insurance powered by Kinto.
  • Network native compliance tooling for protocols.
  • Easier Onboarding with Kinto’s privacy-preserving User Owned KYC and account abstraction.

To conclude, the collaboration between Revest, Kinto, and Resonate represents a significant leap forward in the development of financial solutions within the cryptocurrency sphere.

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