Kima Network and Verida Enters into a Strategic Partnership

Published on: 31.05.2024
Kima Network and Verida Enters into a Strategic Partnership

Kima Network has joined forces with Verida, a leader in self-sovereign identity for Web3. This strategic partnership aims to improve Kima’s security, compliance, and user experience.

This collaboration will enhance Kima’s KYC/AML (Know Your Customer/Anti-Money Laundering) processes and boost overall security. Kima will integrate Verida’s KYC/KYB (Know Your Business) solutions to streamline user verification while adhering to regulations. Additionally, Verida’s secure data storage will fortify user privacy on the Kima platform.

The Verida Wallet will connect KYC credentials directly to transactions, fostering trust and reputation within Kima’s financial operations. Conversely, Verida will explore leveraging Kima’s liquidity solutions, secure messaging, and payment infrastructure to broaden its functionalities.

Beyond a proof-of-concept demonstrating the integration’s effectiveness, Kima and Verida will collaborate on marketing initiatives to expand their user base and brand awareness.

By incorporating Verida’s technology, Kima anticipates a significant reduction in verification costs, faster onboarding times, and enhanced user data security. This partnership paves the way for a more interconnected, secure, and user-centric Web3 ecosystem, where DeFi meets user-controlled data management.

About Verida

Verida is a decentralized network (DePIN) that empowers users to control their identities, store data securely, and enjoy secure messaging and single sign-on capabilities. Their suite of solutions includes a unique wallet, a powerful protocol, and an SDK designed for developers.

Website | Twitter

About Kima

Kima is a blockchain-based protocol aiming to bridge the gaps in the financial landscape, including crypto fragmentation. Through the introduction of “Smart Transactions” and a user-friendly SDK, Kima opens DeFi to new audiences by enabling seamless interchain and hybrid transactions. Kima’s settlement layer facilitates various functionalities, including multi-ecosystem payments, peer-to-peer commerce, CeFi/DeFi integration, cross-chain DEX swaps, and omnichannel wallets, all while prioritizing security and accessibility.

Website | Twitter

Source:
https://medium.com/@kima_finance/revolutionizing-web3-security-with-veridas-technology-kima-network-collaborates-with-verida-951b0f2ffa70

 

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