DeFi companies incorporating ID verification to make Web3 more secure

A number of decentralized finance (DeFi) companies are partnering with ID verification software firms to give customers security while preserving their privacy.

Permissionless identity verification firm 0xKYC and DeFi platform Hinkal Protocol announced a new partnership that will bring soulbound tokens – non-transferrable NFTs that can represent a person's identity – to Hinkal Protocol's operations.

The tokens use permissionless zero-knowledge proofs, which allows for the verification of a wallet without needing explicit consent from the owner or the need to …

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