Written by Logan

On October 26, 2021

Metal Pay chooses Incode as our new identity verification provider

Metal Pay has shifted its identity provider to Incode, building a pathway for a more rapid sign-up process for all new users.

Why users need to be verified

If you’ve been paying attention to the cryptocurrency community over the past few years, you’ve probably witnessed a tug-of-war playing out between opposing sides. The spirit of cryptocurrency is, at its root, decentralized, distributed, and anonymous. Born with a rebel spirit and an eye for innovation, cryptocurrency has always valued protecting the privacy of users wherever possible.

It’s a double-edged sword. Privacy is valuable and should be protected at all costs; however, regulators are increasingly wary of just how private crypto can be. Anyone who understands crypto knows that cryptocurrency is the most intelligent form of money. As our CEO, Marshall Hayner, outlined to The Hill:

“Cryptocurrencies offer the only way to truly assess and intervene when it comes to money laundering, terror financing, human trafficking and so much more. The idea that cryptocurrencies present increased risk is a misnomer; fiat currencies have been the traditional means to finance crime, and cryptocurrencies have always presented more risk to criminals who would prefer to remain anonymous. The vast majority of crime has been financed by fiat money — both digitally and in the form of cash — because fiat money offers an opportunity for anonymity and inconspicuousness.”

Nevertheless, regulators are likely to move strongly towards requiring all US-based cryptocurrency companies know the identity of their users, especially if funds are to be connected to bank accounts. At Metal, we aren’t just reacting to shifting regulatory frameworks – we’re actively anticipating them and preparing our users ahead of time. The only way to stay ahead of the curve is to understand the broader ecosystem, both financial and political, on a deep and intimate level.

For this reason, the identity of Metal Pay users must be verified. However, our commitment is to verify user identities in a way that:

  • Protects their privacy
  • Safeguards their information
  • Causes minimal disruption in their daily life

Why we are shifting to Incode

When it comes to identity verification and the protection of user information, few names are more trusted in this industry than Incode. We recently asked them to pitch themselves to our users and explain why they are one of the most trusted names in this business – here’s what they said:

“We love helping bring delight and trust to the relationships between Metal Pay and its users.  We know that the modern user wants a seamless, consistent, and secure way to perform daily  tasks. Users expect to have all their most valuable information at the touch of their fingers and  the ability to make decisions with a single tap. Yet, what they get today is a hodge podge of  technologies from multiple vendors and devices that make processes clunky and inefficient.  
Incode spent several years co-developing technology with the some of the world’s largest  companies, resulting in technological breakthroughs like the world’s first passive liveness to be  certified by NIST’s iBeta lab, and ultimately a single orchestration platform with over 50 modules  that helps companies build trust with their customers.”

Moving forward, users who create an account on Metal Pay will find that the sign-up process goes much smoother than before. That means fully unlocking your account and enjoying all of the benefits of Metal Pay will come faster than ever, with fewer headaches and less slow downs. If you’ve been waiting for the perfect opportunity to introduce your friends to Metal Pay, this is your chance. The Metal Pay community has been growing quickly in recent months, and now we have the greenlight to accelerate our growth with a vastly improved KYC process.

Get ready, things are about to move quickly around here.

– Your Friends at Metal

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