Global cryptocurrency exchange platform Binance has chosen Japanese know your customer (KYC) and selfie biometrics vendor Liquid Inc amid rising concern about the effect of AI cyber-attacks on the company’s identity verification.
Binance Japan started onboarding users on its newly launched platform on Monday, two years after the largest global crypto exchange was warned by local regulators for operating without a license. In order to migrate to Binance Japan, users will have to go through a KYC process with the help of Liquid Inc.
“Liquid eKYC realizes an identity verification process with an extremely low user drop-off rate through its superior facial recognition and ID document image recognition technologies,” CEO of Liquid Hiroki Hasegawa says in an announcement.
Hasegawa added that Liquid has been working in other industries including banks, Web3-related services, telecommunications carriers, second-hand goods markets, the sharing economy, dating applications, and metaverse-related services. The Japanese eKYC vendor recently announced its intention to move farther into Southeast Asia.
Source: Biometric Update