Blockchain Firm Trade.io Teams with Civic for Faster Verificationsbr>
Trade.io is a Swiss company that wants to revolutionize the exchange trading system through a decentralized, traceable, transparent platform that enables its users to trade through the blockchain. The platform eventually wants to enable users to trade both digital and physical assets, such as cryptocurrencies, precious metals, oil, and other commodities. Trade.io is currently in the midst of its TIO token initial coin offering (ICO) and has raised over $18.2 million thus far from over 7,000 participants.
Civic is an identity verification and management service that allows consumers to protect and authorize the use of their identities in real-time. Civic is spearheading the development of an ecosystem that is designed to facilitate on-demand, secure, and low-cost access to identity verification services via the blockchain. The company introduced a Civic token that participants in the ecosystem will use to provide and receive identity verification-related services. Civic sold $33 million of its tokens during its token sale event in June.
Trade.io intends to utilize Civic’s identity verification services to qualify clients for its liquidity pool and trade.io exchange. By offering Civic’s services, it will significantly be able to cut down the time to on-board clients in an anti-money laundering (AML) compliant manner.
“In the world of finance, there is a delicate balance between being AML compliant, but also providing your customer an efficient, scalable solution to make sure they’re accessing our platform and trading in a short amount of time,” said Trade.io CEO Jim Preissler. “After extensive vetting, we were happy settling upon Civic, who is, without question, the leader in this field.”
“We were intrigued with trade.io’s experience in the industry and approach to ensuring compliance and adhering to regulatory matters,” said Civic CTO Jonathan Smith. “We are looking forward to a long, mutually beneficial relationship with trade.io.”