Crypto payments company Etonec, in partnership with Mina Foundation, will roll out a new zero-knowledge (ZK) proof-powered regulatory compliance tool for the decentralized finance (DeFi) and Web3 spaces, according to a Thursday press release.
The tool will begin “address[ing] existing gaps within the privacy and compliance space” by providing know-your-customer (KYC) and anti-money-laundering (AML) services on the Lumina DEX when it goes live later this year, read the release The prototype is powered by zkApps, which enables private and compliant transactions.
“The zkp-ID solution will ensure builders can do so in a way that helps satisfy concerns of KYC and AML regulators around the globe without requiring users to share sensitive personal identifying information,” Mina Foundation COO Kurt Hemecker said.
Etonec’s partnership with decentralized exchange Lumina DEX will use
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