The world’s largest cryptocurrency exchange by trading volume and user base, Binance, and Liquid Inc., the company behind Japan’s well-known eKYC solution “LIQUID eKYC,” announced a strategic partnership on August 10, 2023.
Binance Japan will be given access to Liquid’s LIQUID eKYC identity verification service during the first stage of this relationship. The service uses a cutting-edge AI-based image processing capability to harness the best facial authentication available, ensuring quick identity verification in accordance with each nation’s security and regulatory framework.
Takeshi Chino, General Manager of Binance’s Japan office, emphasised the significance of the alliance by saying, “Binance’s strong KYC framework plays a key role in safeguarding the platform, users, community, and the entire ecosystem from potential threats.
With Liquid’s strict and complete eKYC solutions, we are eager to launch our Japan platform in a fully compliant manner. Binance will keep upholding a high standard of compliance and safety in Japan.
Thanks to its cutting-edge facial recognition and ID document image identification technology, LIQUID eKYC is famous for its low user attrition rate. The sharing economy, dating apps, cryptocurrency exchanges, Web3-related businesses, telecommunications providers, second-hand goods buyers, banks, and other industries have all adopted it.
The CEO of Liquid, Hiroki Hasegawa, expressed happiness with the partnership and said, “We are pleased to provide the necessary service that will allow them to continue serving more users in a secure and compliant manner.”
Through automatic and widespread authentication, Liquid wants to build a seamless world where all 7.7 billion people can utilise services with ease and safety. Offering Digital ID, KYC, and Authentication services, they promptly and flexibly respond to changes in governmental and technological security frameworks.
A big step has been taken towards improving the security and compliance of cryptocurrency exchanges in Japan with this agreement between Liquid and Binance. Binance reaffirms its commitment to offering a secure and regulated platform for its customers in the Japanese market by adopting Liquid’s cutting-edge eKYC technology.