Through this collaboration, Blockpass will add Cardano crypto addresses to Blockpass App
Cardano’s trading arm, EMURGO, has unveiled its partnership with Blockpass to integrate on-chain KYC into its regulatory compliance offering. Through this collaboration, Blockpass will add Cardano crypto addresses to the Blockpass app and offer on-chain KYC services for Cardano ecosystem projects, optimizing their KYC requirements.
Explaining the rationale behind the partnership in a recent release, EMURGO states that a significant shift is underway toward a Web3 world with decentralized applications running and being developed on Cardano’s blockchain technology, particularly in the DeFi and NFT space.
“As these apps expand their communities and bring more users into the Cardano ecosystem, it will also be necessary over time for some projects and companies to offer quick and easy KYC services on their apps for their users to access to regulated industries,” EMURGO said. founder and CEO Ken Kodama.
In recent updates shared by IOHK, there are nearly 900 projects in development on the network. The figure has grown by roughly 400 since March, after IOHK Vice President Tim Harrison shared that the total stood at around 500.
Growth of the Cardano ecosystem expected in the coming months
As previously covered by U.Today, the AGIX ERC-20 Converter Bride, which was developed in conjunction with SingularityNET, went live this week. It allows users to link Ethereum-based ERC-20 tokens for use on Cardano, with the DeFi sector of the network expected to be a major beneficiary.
Founder Charles Hoskinson recently stated in a video posted to his YouTube channel that the upcoming Vasil Hard Fork upgrade in June will provide a “massive performance improvement to Cardano” and its smart contract capabilities.
The Vasil hard fork is scheduled for June 29, 2022 and aims to improve smart contract capabilities and user experience for Cardano (ADA) users and developers once implemented. This, in turn, will trigger the next wave of technical progress for DeFi protocols based on Cardano Ardana (DANA), Liqwid Finance, and more.
