Centre, a consortium founded by Circle Internet Financial and Coinbase to serve as a network governing and standard-setting body for blockchain-based financial services, has added Polygon, a leading full-stack scaling solution for the Ethereum blockchain, and Credix, the institutional private credit marketplace on Solana, to its list of partners collaborating on its decentralized identity solution Verite.
Polygon intends to incorporate Verite’s standards into its recently announced offering, Polygon ID — a new self-sovereign, zero-knowledge proof (ZKP) identity service designed for users to verify their credentials and identity without revealing any personal information, Centre said in a statement.
Polygon and Credix join a collection of partners supporting Centre’s Verite to promote broader adoption of decentralized identity within crypto payments, DeFi, and access to the wider ecosystem. The current roster of partners includes Algorand, Alkemi, Block, Coinbase, Circle, Compound Labs, ConsenSys, Espresso Systems, FTX, Hedera Hashgraph, Ledger, MetaMask Institutional, Phantom Technologies, Solana Foundation, Spruce, and Stellar Development Foundation.
“Identity, privacy, and security play a crucial role in Web3, and Polygon is proud to reinforce and uphold these principles,” Antoni Martin, Polygon’s enterprise lead, said. “It’s vital to foster an open and decentralized standard that promotes the interoperability and self-sovereignty strived for in this new digital frontier; we’re proud to support Verite in delivering on this vision.”
Centre launched Verite in February. Its goal is to give people and organizations direct control over how, when, and where their personal information is used when doing business in the crypto economy. By allowing individuals and institutions to cryptographically prove claims about their identities and carry those claims in the same crypto wallets where they store their digital assets, Verite is returning autonomy over sensitive information to the individual while continuing to enable businesses to interact with identity-verified participants.
“When industry leaders like Polygon incorporate Verite into their offerings, it serves as a testimony to Verite’s potential to transform the way we understand digital identity on the blockchain,” said David Puth, CEO of Centre. “Polygon Identity is only the beginning. In the future, Verite may ultimately enrich healthcare, creative arts, entertainment, gaming, agriculture, education, and other domains where identity solutions are in high demand. For now, however, Verite’s immediate deployment is sharp and targeted: Providing a powerful, secure, interoperable, free, and open path for identity to unlock new value in the crypto finance ecosystem.”
Verite is open-source and blockchain agnostic, designed to encourage developers and partners to integrate the protocols into existing systems without introducing single-vendor or anti-competitive dependencies. As developers incorporate Verite into smart contracts, applications, and websites, individuals and institutions will be able to use their credentials across the crypto ecosystem.