Singapore-based decentralized crypto exchange WandX announced that it will be collaborating with blockchain-based identity system, SelfKey.
As a decentralized exchange, WandX provides a peer-to-peer marketplace where ERC20 tokens and token baskets can be traded with a single transaction. WandX’s unique Basket protocol enables both trading in ERC20 Token Baskets and integration of it’s protocol with other exchanges.
SelfKey is more than a system. To register oneself as a user, one has to upload the required KYC documents such as name, birthday, nationality, tax numbers, or email. Documents can include an ID card, driver’s license, passport, utility bill, or bank statement, among others.
However, since it focuses on identity sovereignty, all the information provided by users are encrypted and stored in the user’s personal device and cannot be shared with another person arbitrarily.
The collaboration will enable one-click OAuth access to the WandX decentralized exchange and provide SelfKey Identity Wallet users access to WandX. This will be made possible by enabling Login with SelfKey, which is the company’s browser extension.
Apart from that, SelfKey’s Identity Wallet users will also be provided access to the WandX exchange. Once the users generate a SelfKey ID, they can access the WandX marketplace and other services offered by SelfKey.
WandX will be using Selfkey as one of the login systems to it’s DEX and Basket protocol.
Abhinav Ramesh, the founder and Chief Executive Officer (CEO) of WandX said, “We’re very excited to be a part of the SelfKey marketplace, as well as utilize SelfKey’s OAuth for our DEX and Basket protocol.”
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