Blockchain, the leading provider of cryptocurrency products, has chosen Estonian personal identification services startup Veriff for its online identity verification services. Veriff will be tasked with user onboarding and verifying their identity by comparing the data obtained from their identification document, video feed and device.
Blockchain provides a secure and convenient platform for cryptocurrency trading and services millions of customers all over the world, ranging from individuals to large institutions.
The company started testing Veriff's service in early 2019, and has to date used it to verify the identity of millions of its customers, preventing fraudsters from using the company's platform.
"Blockchain has always been committed to providing crypto users the tools they need to be their own bank," said Xen Baynham-Herd, general manager of Blockchain. "As you create more sophisticated products to empower this mission, identity verification becomes vital to providing users with the best experience. Veriff's technology is world-class, and they've been an even better partner."
"It is a great compliment to Veriff's team for Blockchain to choose us as a partner for identity verification services, especially as their highly professional team has been working with different verification service providers," said Veriff founder and CEO Kaarel Kotkas. "Identity verification on a global scale is no easy feat, but through this partnership, we'll continue to set and advance the standards for transparency and fraud protection in cryptocurrencies."
Blockchain has raised over $70 million (USD) in funding from leading investors including Lightspeed Venture Partners and Google Ventures. Board members include former Barclays CEO Antony Jenkins, Lightspeed Ventures partner Jeremy Liew, and former Skype COO Michael Jackson.
Veriff is an Estonian technology company that provides tools for the virtual authentication of individuals, thus protecting companies and their customers from identity fraud and theft. User identity is verified by AI, which simultaneously uses thousands of data points and is capable of assessing over 3,000 types of identity documents from over 190 states.
Veriff's clients operate in the areas of finance, the sharing economy and e-commerce in Berlin, London, Now York, San Francisco, Vienna and other cities. In June, Veriff joined forces with Berlin's public transport company Berliner Verkehrsbetriebe (BVG).
The company has approximately 300 people working in its Tallinn office. It has raised $7.35 million worth of investments to date; investors in the company include Mosaic Ventures, Y-Combinator, SV Angel, ACE & Company, LIFT99, Superangel, Taavet Hinrikus, Ashton Kutcher, Paul Buchheit, Elad Gil, Sten Tamkivi, Jaan Tallinn, Ragnar Sass, Gustaf Alstromer, Anu Harihara, and former LexisNexis CEO Andrew Prozes, among others.
Editor: Aili Vahtla