Cape Town, South Africa, March 2019 — OVEX, a digital asset exchange that offers markets on 19 different cryptocurrencies and the ability for users to earn interest on their wallet balances, today announced a strategic partnership with Civic Technologies Inc., the company revolutionizing digital identity with blockchain-powered technology. The partnership brings trusted, secure identity services to the South African cryptocurrency industry and enables OVEX to provide instant and decentralized account verification.
“Our partnership with Civic makes OVEX a market leader in compliance and AML. We are able to leverage AI and machine learning technologies in order to get our customers set up and verified in minutes rather than days, which is typical in the industry. The decentralized nature of Civic’s identity verification allows our users to rest easy knowing that no third party is holding their personal information. This protects OVEX customers from the counterparty risk that is associated with the KYC providers used by other exchanges,”
- – said OVEX CEO, Jonathan Ovadia.
“We are excited that OVEX will be integrating Civic to provide simple identity verification solutions for their exchange platform. As a digital identity company, we’re building a partner ecosystem that will make identity verification more accessible, cost-effective, and secure for companies and customers around the world.”
- – said Civic CEO and Co-founder, Vinny Lingham.
Civic will enable OVEX to easily and securely authenticate customers with the Secure Identity Platform and Reusable Know Your Customer (KYC) implemented across the OVEX exchange. This will help remove the friction for OVEX users when they are signing up or when they are required to verify identity when withdrawing more than R20,000.
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