The passport will provide identity and compliance solutions for applications built on Polygon
MARINA DEL REY, Calif.--(BUSINESS WIRE)--Quadrata, a passport network bringing the identity and compliance layer to public blockchains, is integrating its passport identity technology with Polygon, the leading blockchain development platform offering scalable affordable, secure and sustainable blockchains for Web3. The partnership will provide applications being built on Polygon with access to identity and compliance solutions, and will deliver on Quadrata’s roadmap to support multiple blockchains.
There is a growing need in the blockchain space for decentralized apps (dApps) and decentralized finance (DeFi) protocols to incorporate solutions that provide a layer of identity and compliance. Identity-verifying infrastructure allows dApps to easily confirm they are reaching real customers and complying with regulatory requirements. It also can help expand DeFi use cases and create better products because developers will have access to information about wallet accounts.
“Offering our passport technology to one of the largest public blockchains, after Ethereum, is a natural step for Quadrata. This partnership is helping us to reach new applications being built on Polygon that need access to identity and compliance natively on-chain,” said Fabrice Cheng, CEO, CTO and co-founder of Quadrata. “We’ve always believed that identity technology should not be tied to a single chain and that identity verification is without borders.”
“We’ve seen growing interest from applications who rely on identity and compliance and are excited to deploy Quadrata’s technology on our platform,” said Hamzah Khan, Head of DeFi and Labs at Polygon. “The passport identity network is a key infrastructure that is needed and will enable dApps on Polygon to innovate and broaden their product offerings.”
Quadrata is interested in partnering with any applications that are building on Polygon and looking for compliance-aware solutions. In the future, Quadrata also has plans to deploy their identity and compliance technology on all Ethereum Virtual Machine (EVM)-compatible chains. To learn more please visit Quadrata.com.
About Quadrata:
Quadrata is a web3 company bringing the identity and compliance layer to decentralized applications on existing public blockchains such as Ethereum. Quadrata’s privacy preserving and sybil-resistant technology allows smart contract applications native on-chain access to information such as DID, KYC/AML risk scores and country, as well as credit reputation and accredited investors status in the future. Quadrata spun out from Spring Labs with a continued commitment to developing and promoting blockchain-based technologies. To learn more about Quadrata, visit www.quadrata.com or follow along on Twitter at @QuadrataNetwork.
About Polygon
Polygon is the leading blockchain development platform, offering scalable, affordable, secure, and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with 19,000+ decentralized applications hosted, 1.6B+ total transactions processed, 142M+ unique user addresses, and $5B+ in assets secured. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.
Contacts
Media:
Sofia Coon
Quadrata@wachsman.com