Centre – the consortium founded by Circle Internet Financial, LLC and Coinbase to serve as a network governing and standard setting body for blockchain-based financial services – has announced a new set of partners for its recently launched set of decentralized identity protocols, Verite. The new partners, crypto exchange FTX and decentralized liquidity network Alkemi Network, are committed to collaborating on Verite to promote broader adoption of crypto payments, decentralized finance, and access to the wider ecosystem.
FTX and Alkemi are joining a collection of partners that have commitments to collaborate on shared decentralized identity standards going forward. These initial Verite launch partners include Algorand, Block, Coinbase, Circle, Compound Labs, ConsenSys, Espresso Systems, Hedera Hashgraph, Ledger, MetaMask Institutional, Phantom Technologies, Solana Foundation, Spruce, and Stellar Development Foundation.
“At Alkemi Network we’re on a mission to expand accessibility for users across the crypto space,” said Brian Mahoney, Chief Strategy Officer and Cofounder at Alkemi Network. “That’s why we’re proud to partner with Centre in support of Verite and its mission to set a standard for sharing identities and information in the crypto ecosystem. The increased privacy, security, and control that Verite provides will benefit everyone in the space, from the organizations building on blockchains, to the users transacting on them.”
Verite is a set of shared decentralized identity protocols designed 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.
“Today, there is no industry-wide agreement over how products and services might interoperate in key crypto finance use cases. Verite is designed to create that consensus,” said David Puth, CEO of Centre. “We are pleased that our partners – some of the most influential institutions in the space – share our conviction that Verite’s identity standards will create a new level of clarity, privacy, and convenience to everyone transacting in the crypto economy.”
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 will be able to use their credentials across the crypto ecosystem, making digital assets far more accessible to both crypto natives and novices. Developers can start building with Verite today via Centre and help create the future of institutional DeFi, among other use cases.