ARGOS ID introduces the world’s first travel rules solution | Tech US News

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ARGOS ID is pleased to introduce the world’s first travel rules solution for crypto wallets.

The service provides full coverage on the verification of non-hosted wallets which Virtual Asset Service Providers (VASPs) find challenging at the current stage.

According to FATF guidance on verifying originator and beneficiary information on virtual asset transactions, it is necessary to know the identities of crypto wallet holders.

To comply with the FATF guidance on non-hosted wallets, jurisdictions have begun to apply enforcement and oversight measures to local VASPs.

For jurisdictions looking for a simplified travel rules solution, especially for personal crypto wallets, identification plays a key role. It provides the following benefits to VASPs:

Easy connection with non-hosted wallets

With ARGOS ID, crypto wallet holders can easily verify information from their multiple crypto wallets. Creating a crypto wallet is done without submitting any personal information.

To verify the holder of the cryptographic wallet, it is necessary to verify the identity information of the holder of the wallet. The ID helps identify non-hosted wallet users to both the originator and beneficiary.

After ID creation, users can connect to multiple crypto wallets such as MetaMask, Phantom, WalletConnect and more with a single identity verification (KYC) process.

Digital ID suitable for the Web3 environment

ARGOS ID provides an ideal environment where individuals can manage information for themselves. It is suitable for the Web 3 environment as ARGOS ID users can decide what information to delete or review after completing the crypto wallet verification.

Information includes SNS login, verified crypto wallet, and photos submitted for identification and selfie during KYC. The wallet owner can manage their personal information as ARGOS ID is a self-sovereign digital ID.

Simplified procedure for verifying multiple personal wallets

Connect multiple crypto wallets with a single KYC (Know Your Customer). KYC process must be completed after creating ARGOS ID. ARGOS ID currently supports 5 blockchain networks (Ethereum, Solana, Binance Smart Chain, Polygon and Klaytn) and more will be added in the future.

Publish ARGOS ID creation with social login, KYC is performed. Once KYC is completed, various crypto wallets such as MetaMask, Phantom and WalletConnect can be connected and verified via ARGOS ID.

Virtual asset transactions available to the third party

ARGOS ID makes virtual asset transactions possible for a third party, which means that it is also possible to send the virtual asset to non-VASP clients.

For example, when a VASP customer wishes to send virtual assets to a third party, a person who is not a VASP customer, ARGOS ID can also be applied. Crypto wallet verification is available with ARGOS ID for both VASP customers and non-customers.

Once both crypto wallets are verified, the exchange of virtual assets between clients and non-clients becomes possible.

As both the sender’s crypto wallet and the receiver’s wallet have been verified, including KYC, it is expected to alleviate the inconvenience of numerous virtual asset exchanges at the current stage.

It is a digital ID suitable for the Web 3 environment. Apply the solutions to your service as it helps you to comply with the regulations on the sending and receiving of virtual assets.

Securely protect the necessary sender and receiver information with ARGOS ID. With simple API and web SDK, prepare it in your service without delay. Experience simple, fast and easy integration.

About ARGOS

ARGOS started the business with the aim of providing hassle-free KYC. With the advent of Web 3 and the rise of the cryptographic industry, ARGOS expanded its business to ARGOS ID. ARGOS ID aims to provide a travel rules solution for verifying non-hosted wallets.

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Disclaimer

All information contained on our website is published in good faith and for general information purposes only. Any action taken by the reader on the information found on our website is at your own risk.



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