Blockchain digital identity system SelfKey has teamed with digital asset platform Kyber Network to integrate the Kyber Exchange platform into the SelfKey Identity Wallet.
SelfKey provides a digital identity wallet capable of storing ID attributes and documents, which also support ethereum-based tokens. Users can create their ID and share it to access products and services listed in the SelfKey marketplace, including bank accounts, citizenship and residency by investment, company incorporation, and initial coin offerings (ICO), among others.
Kyber Network is a new system which 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. Users can also mitigate the risks of price fluctuations in the cryptocurrency world with the company’s derivative trading. Kyber Network 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.
“Thanks to this partnership, the Identity Wallet will not only allow users to go through know-your- customer (KYC), send, store, and receive tokens when participating in ICOs, but also to exchange tokens using Kyber infrastructure and support,” said Selfkey founder Edmund Lowell.
“This collaboration broadens Kyber Network’s exchange service to an even greater audience through SelfKey,” said Kyber Network CEO Loi Luu. “Beyond that, users of Selfkey Identity Wallet can also perform seamless and secure ether-ERC20 conversions without leaving Selfkey’s platform.”
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