LEXIT integrates SelfKey blockchain-based ID and KYC solution

13/03/18

Self-sovereign digital identity platform SelfKey will facilitate KYC funnel and validation of the identity of individuals and corporations trading on LEXIT, a blockchain-based marketplace for corporate assets and Intellectual Property.

LEXIT is an online marketplace on which entire companies, specialized departments, and their IP can be bought, sold and licensed. This includes startups that wish to exit, but also companies that seek to sell or lease work-in-progress applications or independent developers selling their code and digital assets.

SelfKey provides an identity wallet that empowers users to control their identity data and documents at all times and service providers to streamline KYC processes. With SelfKey, users’ identity is stored locally in their devices and is only shared with their consent, avoiding potential massive data breaches, and service providers are capable to be compliant with the highest AML&CTF standards in a simple, quick and reliable manner.

LEXIT will use the SelfKey KYC on-boarding software to meet the most demanding KYC & AML / CTF requirements and to identify and screen both individuals and legal entities.

In addition, through the SelfKey Identity Wallet, participants will be able to share their KYC profile with LEXIT and sign up with a single click. In the future with the Corporate Identity Wallet, not only individuals will enjoy instant authentication, complex corporate structures will also be able to do so.

Relying on SelfKey’s services, LEXIT users will be able to proof their identity in minutes from almost any jurisdiction.

“One of the key-advantages SelfKey has to its competitors is its capability to verify the identity not only of individuals, but of entire companies and corporations. As an M&A venue and marketplace for corporate assets, this service seems to be tailor-made for the LEXIT’s needs,” said Amir Kaltak, LEXIT CEO.

Commenting on partnership, SelfKey founder Edmund Lowell stated: “The fact that such an ambitious project as LEXIT has relied on SelfKey to carry out one of the most critical and sensitive process of its platform, the due diligence & KYC process, reaffirms SelfKey as one of the main players in a market that is expected to grow exponentially, giving us the opportunity to scale up our project quickly but sustainably.”

LEXIT CEO Amir Kaltak added: “Trust and accountability are among the most important ingredients for the success of the new e-economy in general, and for LEXIT’s M&A marketplace in particular. SelfKey, with their industry-leading approach to digital-identity services, facilitates this trust and will allow us to hit the ground running even faster.”

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