cheqd, a “decentralized” payment and trust infrastructure provider, has announced a partnership with ID Crypt Global, a digital identity and security company, to integrate identity and security solutions into Apex Digital Exchange (ADEX), a key player in the decentralized finance (DeFi) space.
This collab is reportedly designed to tackle two critical challenges facing the cryptocurrency and DeFi markets: user trust and identity verification.
The partnership integrates cheqd’s identity infrastructure with ID Crypt Global’s KYC, AML, and compliance solutions, enabling ADEX users “to securely verify identities while maintaining control over their data.”
As mentioned in the announcement, ID Crypt Global is a key player focused on digital identity innovation.
Its solutions ensure “privacy-preserving” onboarding, continuous KYC/AML checks, and regulatory compliance, improving security and user experience.
Lauren Wilson-Smith, ID Crypt Global founder and CEO said:
“This partnership will provide greater levels of security, privacy and protection against financial crime, all of which contribute back to delivering greater trust in the DeFi and ADEX model.”
cheqd’s identity technology enables ADEX to offer a cost-effective platform with lower trading costs and more “accessible fiat on-ramps.”
By eliminating intermediaries, ADEX incentivizes compliance “through reputation based rewards.”
Real time identity verification, biometric checks, and risk updates help reduce fraud and build trust, “addressing rising crypto-related scams and fraud losses.”
Fraser Edwards, Co-founder and CEO at cheqd said that at cheqd, we’re building the trust and payment infrastructure “that underpins the future of decentralized finance and beyond.” Edwards added that their partnership with ID Crypt Global and ADEX “brings their privacy-preserving payments, decentralized identifiers (DIDs), and advanced Trust Registry capabilities to the DeFi space, allowing users to engage with confidence in a secure, compliant environment.”
This collaboration may provide a solution for traditional financial institutions hesitant to enter DeFi due “to security and compliance concerns.”
By adopting decentralized identity standards and enhanced security, ADEX can align with the compliance measures familiar “to traditional finance, fostering new partnerships that bridge the gap between DeFi and the broader financial services industry.”
Working with cheqd and ID Crypt Global, they are able to “stay true to our DeFi web 3 beliefs while at the same time delivering bank grade KYC and compliance.”
Not only does this partnership bring trust in our exchange, it forms the cornerstone of the roadmap.
ID Crypt Global (IDC) is a digital identity and security specialist, “providing services to both businesses and individuals.”
IDC follows a Self-Sovereign Identity model for its identity based solutions and security services, including its Decentralized Public Key Infrastructure (DPKIps) suitable for financial market infrastructure.