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Unlike banks, which require know-your-customer (KYC) information prior to opening an account, a significant number of crypto exchanges offer tether (USDT) bonuses for submitting KYC information like name, address, ID card, and contact information. To be clear, these KYC bonuses are not account opening bonuses. In many cases, crypto exchanges allow customers to open small accounts and trade without submitting any KYC information. Moreover, the tether bonus doesn’t require any bank-like task, such as signing up for direct deposit or holding a large initial balance. Rather, this tether bonus is simply for submitting a valid ID card. Therefore, although it’s commonplace for banks to offer an account opening bonus for customers who complete significant banking tasks, US banks typically do not pay anything for simply opening an account and submitting an ID card. Moreover, a US bank may not open an account without an ID card; KYC documentation is federally mandated. Similarly, ...

1/ @DeloitteCH – the world’s biggest accounting firm – is the latest major enterprise partner to come to the Polkadot ecosystem, choosing cutting-edge tech provided by the @Kiltprotocol parachain to enhance its identity protocols. pic.twitter.com/nkqr0i1s0I advertisement — Polkadot (@Polkadot) May 4, 2023 Interestingly, the use of blockchain in KYC has the potential to significantly reduce costs, speed up processing times, and increase data security. Trending Stories MATIC Price Prediction: Polygon Price at Monthly Support Plots a Quick 12% Jump 24/7 Cryptocurrency News Stacks Price Ready to Resume Bullish Recovery Forecast 64% Growth; Buy Now? 24/7 Cryptocurrency News Solana Price Prediction: SOL Price Coiling Up For a Massive Move; Is $30 on the Horizon? 24/7 Cryptocurrency News Healthy Retracement Fuels Pepe Price For 130% Rally in its Next Recovery Cycle; Enter Today? 24/7 Cryptocurrency...

The blockchain-based national eKYC banking platform is aimed at strengthening anti-money laundering (AML) capabilities while countering terror financing. Pakistan Banks’ Association (PBA) — a group of 31 traditional banks operating in Pakistan — signed off on the development of a blockchain-based platform for Know Your Customer (KYC) initiatives.  On March 2, PBA signed the project contract for developing Pakistan’s first blockchain-based national eKYC (electronic Know Your Customer) banking platform, reported Daily Times. The move was aimed at strengthening anti-money laundering (AML) capabilities while countering terror financing — an initiative led by the State Bank of Pakistan (SBP). The member banks include international establishments such as the Industrial and Commercial Bank of China, Citi bank and Deutsche Bank. Moreover, the blockchain platform will improve operational efficiencies — primarily aimed at improving customer experience during the onboarding process. A momentous ...

Decentralization has been the long-standing ethos of the crypto -verse. However, the need for centralization soon crept in forcing platforms to operate in such a manner. Therefore, a whole new space called decentralized finance or DeFi came to be. Now, payments firm, Stripe was making DeFi more accessible to the masses. In a recent blog post, Stripe announced that it would carry out fiat-to- crypto payments for firms across the globe. Customers will be able to immediately buy crypto currencies in Web3 apps with the help of the product, which is a widget that can be customized and easily integrated into a decentralized exchange [DEX], non-fungible token [NFT] platform, wallet, or decentralized app [dapp]. The Solana [SOL] network is certainly relevant here as 11 of the firm’s 16 projects were formulated on this network. In addition to this, Stripe pointed out that it manages know-your-customer [KYC], payments, fraud, and compliance challenges and provides configurable ...