First on-chain compliance solution for BNB Chain users, dApps and DeFI protocols

published on 14 June 2023

Today, we are pleased to announce the launch of the first decentralized on-chain compliance solution for BNB Chain dApps 🎉

Onchain compliance for DeFi
Onchain compliance for DeFi

Breaking new ground with privacy-focused compliance solution for Web3

This new product introduces a new era in seamless, privacy-preserving compliance in the rapidly evolving web3 ecosystem, particularly within the Decentralized Finance (DeFi) ecosystem.

Altme's on-chain compliance solution ingeniously combines Decentralized Identity (DID) and NFTs to help BNB Chain dApps remain regulation compliant, while protecting their users privacy. 

Bringing seamless onchain compliance to the BNB Chain ecosystem

With Altme's solution, BNB Chain dApps can verify user compliance directly onchain. Here is how it works: 

1. Download the Altme wallet : Altme is a non-custodial self-sovereign identity wallet that gives users complete ownership and control over their personal data. 

2. Follow a one-time KYC verification : In the Altme wallet, users undergo a built-in KYC process and obtain several verifiable credentials such as: a proof of identity, a proof of age and a proof of compliance. These credentials are self-sovereign, reusable and easy to share.

3. Mint a compliance NFT : After obtaining their verifiable credentials, users can mint compliance NFTs directly on the BNB Chain. These non-transferable NFTs showcase a binary compliance status, ensuring regulatory compliance while preserving user privacy.

Once users have minted their compliance NFTs, dApps can instantly monitor user’s DeFi compliance onchain, ensuring adherence to various regulations, such as Anti-Money Laundering laws (AML), without accessing user’s personal data.

Key advantages of Altme’s Decentralized ID solution

The Altme wallet offers unparalleled benefits for web3 users and dApps : 

  • First of all, Altme is open-source and 100% free-to-use. This means all BNB Chain users can follow a free KYC process and mint their compliance NFTs at no cost. 
  • Secondly, by building their decentralized identity with Altme, users obtain tamper-proof, reusable and instantly verifiable credentials to prove their identity, age or compliance in the web3 ecosystem.

By combining self-sovereign identity with NFT in a user-friendly wallet, Altme empowers users to navigate the growing web3 regulatory landscape while preserving their privacy and data security.

"We are extremely happy to introduce one of the first on-chain compliance solutions built on decentralized identity standards. This new generation of crypto wallet will help Web3 users take full control of their personal data and protect their privacy, while also enabling dApps to remain fully compliant with regulations."

Hugo MIR, CMO of Altme

How to get started ?

We invite all BNB Chain users, dApps, platforms and protocols to explore this new decentralized on-chain compliance solution. 

About Altme :

Altme is a leading provider of decentralized identity solutions for the web3 ecosystem. With a focus on self-sovereign identity and privacy, Altme enables compliant interactions between users and decentralized applications. Built on open standards and driven by a commitment to decentralization, Altme is shaping the future of decentralized web3 compliance:  

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