Liquid to Provide Binance Japan With AI-Based KYC Solution
Binance, the largest crypto exchange, has partnered with Japanese company Liquid to provide identity verification for customers on its new platform in Japan. This collaboration will begin with Liquid offering Binance its eKYC service, which includes advanced facial authentication using AI-based image processing.
Key Points:
- Liquid will provide Binance with its eKYC service for customer identity verification in Japan.
- Binance emphasizes the importance of a robust KYC framework in protecting the platform and users.
- Binance has faced increased regulatory pressure globally and acquired a Japan-registered Bitcoin exchange to comply with local regulations.
- Binance Japan will allow Japanese users to migrate to the new domestic platform after passing identity verification.
- Liquid’s eKYC product, utilizing facial recognition and ID document image recognition, has been implemented in various industries.
Hot Take: By partnering with Liquid for its eKYC solution, Binance demonstrates its commitment to complying with regulations and prioritizing the safety and security of its users. This collaboration allows Binance to expand its services in Japan while ensuring strict compliance with local laws. The use of AI-based image processing and facial authentication adds an extra layer of security to the identity verification process.
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