SelfKey integrates Kyber Network’s crypto exchange platform

SelfKey, a blockchain-based digital identity system, is working on plans to integrate the Kyber Exchange platform into the SelfKey Wallet.

SelfKey provides a digital identity wallet capable of storing ID attributes and documents, whilst also supporting supports Ethereum-based tokens. Users can securely access ID attributes and documents, verify and notarise them through qualified certifiers, and share them with relying parties listed on the SelfKey Marketplace to access their products and services.

Kyber Network allows the exchange and conversion of digital assets. Using its payment APIs, users can send one token to a recipient who wishes to receive the payment in another token in a single transaction. It recently launched its decentralized exchange platform in the ethereum mainnet.

The integration will allow SelfKey wallet users to trade a broad range of ERC20 tokens from within the wallet application. Users will be able to purchase and sell SelfKey’s native token KEY and Kyber’s native token KNC, among many others.

“SelfKey serves as a one stop shop for fintech and financial services,” said Selfkey founder Edmund Lowell. “We are proud to partner with such ambitious project as Kyber, whose design matches with our purpose to provide more freedom and sovereignty to individuals. Thanks to this partnership, the Identity Wallet will not only allow users to go through KYC, send, store and receive tokens when participating in token sales but also to exchange tokens using Kyber infrastructure and support.”

CEO of Kyber Network, Loi Luu said the collaboration will broaden Kyber Networks exchange service while providing SelfKey users a seamless and secure exchange of crypto without leaving the SelfKey platform.

Earlier this year, SelfKey recently held an initial coin offering to raise growth capital. The token sale ended on $21.7m, selling out almost immediately. The company aims to make KYC simple by allowing individuals and companies to truly own, control and manage their digital identity, and instantly access Citizenship and Residency by Investment, Company Incorporation, Fintech Products, Token Sales, Exchanges and much more.

It recently obtained a Mauritius’ Regulatory Sandbox License (RSL), which allows SelfKey to develop its self-sovereign digital identity wallet with a greater level of regulatory certainty.

Copyright © 2018 RegTech Analyst

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