Seoul, South Korea, Nov 14, 2022, Chainwire

ARGOS ID is pleased to introduce the world’s first Travel Rule solution for crypto wallets. The service provides comprehensive coverage on non-hosted wallet verification which Virtual Asset Service Providers (VASPs) find challenging at the current stage.

From the FATF guidance on verifying originator and beneficiary information in virtual asset transactions, it is required to know the identities of crypto wallet holders. In order to comply with the FATF guidance regarding non-hosted wallets, jurisdictions have begun to apply compliance and supervision measures to local VASPs.

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

Easy connection to 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 crypto wallet, it is necessary to verify the identity information of the holder of the wallet. ARGOS ID helps identify users of non-hosted wallets for both the originator and the beneficiary.

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

Digital identification suitable for the Web environment 3

ARGOS ID provides an ideal environment where people can manage the information 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 sovereign digital identification.

Simplified procedure to verify multiple personal wallets

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

After creating the ARGOS ID with social login, KYC is performed. Once KYC is complete, various crypto wallets such as MetaMask, Phantom, and WalletConnect can connect and verify via ARGOS ID.

Virtual asset transactions available to the Third Party

ARGOS ID allows virtual asset transactions to be possible for a third party, which means that it is also possible to send the virtual asset to non-VASP customers. For example, when a VASP customer wants to send virtual assets to a third party, a person who is not a VASP customer, the ARGOS ID may also apply. 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 drawbacks of numerous virtual asset exchanges at the current stage.

ARGOS ID is a digital identification suitable for the Web 3 environment. Apply ARGOS identification solutions to your service, as it helps you comply with regulations on sending and receiving virtual assets. Safely secure necessary sender and recipient information with ARGOS ID. With simple API and web SDK, get ARGOS ID in your service without delay. Experience the simple, fast and easy integration.

About ARGOS

ARGOS has started the business with the aim of providing seamless KYC. With the advent of Web 3 and the rise of the cryptocurrency industry, ARGOS has expanded its business to ARGOS ID. ARGOS ID aims to provide a travel rule solution to verify non-hosted wallets. Make non-hosted wallets compatible.

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https://www.argosid.one

Contact

Marketing Manager
Jieun Lina Kim
full stack inc
jieunkim@argoskyc.com
82-10-6480-3423