To increase transparency of transactions on the blockchain, Pundi X partners with VeriME, a blockchain company that specializes in decentralized digital identity verification services. This partnership will enable retailers to sign up for Pundi X’s services by instantly and securely completing their KYC.

VeriME is founded by Nguyen Hoa Binh, the Founder and Chairman of PeaceSoft, one of the largest e-commerce groups in Vietnam and Sanjeev Kumar, Chief Product Officer of Omise Co and previously work as Merchant Solutions & Strategy — APAC in VISA.

Pundi X is set to use VeriME’s instant identity verification services to streamline customer on-boarding processes for its retail partners. Through this partnership, Pundi X intends to get one step closer to making transactions on the blockchain at the physical stores as easy as possible.

VeriME’s fast and decentralized identity verification technology, called as D-KYC, will enable retailers to sign up for Pundi X’s services by completing their KYC securely within.

Speaking on the partnership, Pundi X’s CEO and co-founder Zac Cheah said, “Pundi X is pleased to announce a partnership with VeriME. VeriME’s blockchain-based identity verification solution allows for quick, effortless and paperless KYC. As global interest in Pundi X POS solutions increases, we find that integrating such a technology in our services will help comply with the requirement and accelerate our product distribution and adoption.”