AllianceBlock to provide decentralized KYC for Avalanche’s Pangolin DEX
AllianceBlock, a blockchain-agnostic project building compliant and data-driven products, today announced a strategic partnership with Pangolin, a community-driven DEX powered by Avalanche.
Leveraging GBG’s identity data intelligence software, this product allows users to prove their identity in a trustless manner only once, and to subsequently prove their eligibility for sales and other activities without having to share personal information with multiple providers.
Pangolin + AllianceBlock
The AllianceBlock integration on Pangolin will help the DEX grow with any new regulatory developments.
Going forward, AllianceBlock will add an optional compliance layer to Pangolin’s services through its Cross Border Regulatory Compliance Layer. Cumulatively, AllianceBlock’s solutions will support Pangolin in inviting more retail and institutional investment onto its exchange in a scalable and compliant way.
Moreover, Pangolin will also become a node validator for AllianceBlock’s Bridge and will be integrated into the Liquidity Mining as a Service program. This will open up a new ecosystem of projects that can benefit from their white label fundraising solution.
“Our products will allow Pangolin to be ready to onboard institutional clients in line with regulatory requirements and to stay ahead of the game, while at the same time giving their users the freedom to choose.”
– Rachid Ajaja, CEO & Co-Founder of AllianceBlock
AllianceBlock’s compliance solutions will be implemented on separate subnets of Pangolin. Users will be able to choose which networks they interact with and if, depending on their location, they want to use the compliance service or not; allowing users to choose their level of anonymity depending on the jurisdiction.
“Being able to rely on a streamlined solution for compliance opens new opportunities for our decentralized exchange. At the same time, it preserves the freedom to choose compliance levels for our current users. We’re excited to be a part of AllianceBlock’s broader ecosystem. Both teams have seen the value in working together as we continue to expand.”
– Justin Trollip of Pangolin
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