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Media

Blockpass Onboards ADAX for KYC Verification, Lists PASS on Exchange

Matthew Warner | December 2019

Blockpass and ADAX Tech Limited have announced a new working relationship as ADAX integrates the Blockpass KYC Connect solution to provide KYC services for its token issuance and exchange platform. By integrating Blockpass, ADAX will gain KYC, AML and Face Match capabilities that are simple, quick, and maintain user privacy and control. In addition to these services, Blockpass announced its native utility token PASS on ADAX and Basetrade in early December.

To kick off the listing and celebrate the successful integration, Blockpass has announced it will give 400 PASS tokens to the first 1000 users of the ADAX platform who complete their KYC using the Blockpass App. PASS will be distributed within 24 hours of users completing their KYC with ADAX using Blockpass.

ADAX is licensed as an Overseas Virtual Currency Exchange (OVCE) with the Cagayan Economic Zone Authority (CEZA) in the Philippines. It provides a variety of services, including an asset-backed security token issuance platform, a security token investment platform, a regulated exchange for secondary trading of utility as well as security tokens, and a fiat-digital assets gateway. ADAX aims to enable investors and corporations with opportunities that will see more liquidity, fair pricing and greater transparency through the use of blockchain technology.

Blockpass is digital identity application and service which puts the user in control of their data. Blockpass provides a one-click compliance gateway to financial services and other regulated industries. From the Blockpass Application, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services or token purchases. PASS is a KYC-enabled ERC-20 token, used for transacting in the Blockpass ecosystem.

“We’re excited to be able to provide our proprietary eKYC services to an innovative and forward-thinking company such as ADAX.” said Blockpass CEO Adam Vaziri. “We are always looking to improve the stressful and irritating process of KYC regulation compliance, but working to do this with cryptocurrency exchanges such as ADAX is always a pleasure. Providing a new avenue to purchase our revolutionary PASS tokens through this partnerships also serves to provide added value to our users.”

“The digital tokenization of assets eliminates major barriers faced by projects and investors in the current global marketplace infrastructure. Through ADAX and blockchain technology, we will be able to bring a channel of liquidity and fair pricing for these assets through a cross-border investment system that is fully compliant and regulated. And as we partner with Blockpass for digital identity verification and compliance solutions, we are able to provide consumer confidence to satisfy global requirements for regulation and compliance.” said Wojtek Kaszycki, ADAX President.

Blockpass has expanded in size and use over the past year, with the inauguration of the Blockpass Identity Lab in partnership with Edinburgh Napier University in September, followed by a number of new partnerships and collaborations with companies from a variety of industries and interests. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. Blockpass is seeing rapidly increasing numbers of users in the past few months as its identity verification solution is used for ICOs, STOs and IEOs, supporting a number of successful fundraisers in the past few months. The Blockpass App is available from the App Store and Google Play.