3 hours ago
Bitcoin.com and Concordium have teamed up to introduce age-verified stablecoin payments to 75 million wallets, blending privacy with new compliance standards.
579
Crypto media and wallet platform Bitcoin.com has partnered with Concordium, a privacy-focused layer-1 blockchain, to enable age-verified stablecoin payments across more than 75 million wallets on Bitcoin.com’s network.
Announced on Thursday, the integration allows wallet users to verify specific identity attributes, such as age or jurisdiction, without revealing personal details. Verification occurs off-chain through independent third-party providers, and no personal data is stored on the blockchain.
Each transaction utilizes zero-knowledge proof technology to verify compliance requirements while maintaini…
3 hours ago
Bitcoin.com and Concordium have teamed up to introduce age-verified stablecoin payments to 75 million wallets, blending privacy with new compliance standards.
579
Crypto media and wallet platform Bitcoin.com has partnered with Concordium, a privacy-focused layer-1 blockchain, to enable age-verified stablecoin payments across more than 75 million wallets on Bitcoin.com’s network.
Announced on Thursday, the integration allows wallet users to verify specific identity attributes, such as age or jurisdiction, without revealing personal details. Verification occurs off-chain through independent third-party providers, and no personal data is stored on the blockchain.
Each transaction utilizes zero-knowledge proof technology to verify compliance requirements while maintaining user privacy.
Corbin Fraser, CEO of Bitcoin.com, said the ability to make age-verified payments helps balance user anonymity with regulatory compliance, an important consideration as the crypto sector develops.
The integration has been described as a possible response to new safety and age-verification laws introduced in parts of Europe and several US states. In the United Kingdom, the government has reported that around five million online age checks are carried out each day under recently implemented regulations.
The companies said the absence of effective verification measures has limited the stablecoin sector’s ability to gain broader adoption as a mainstream payment method.
***Related: ***Concordium debuts app for anonymous online age checks amid UK rules backlash
Stablecoin growth spurs calls for stronger verification standards
While crypto adoption continues to expand, particularly in the stablecoin market, industry observers say stronger verification standards are needed, as stablecoins now process more annual transfers than Visa and Mastercard combined.
New standards are becoming more urgent as more institutional capital moves onchain. As Cointelegraph has reported, the corporate stablecoin race is intensifying, with Citigroup and Western Union now joining the fray.
Efforts are also growing on the retail side, particularly in emerging markets where stablecoins offer faster transactions and protection against local currency inflation. Recently, Nigerian fintech Flutterwave announced a partnership with Polygon Labs to launch a stablecoin-based cross-border payment network spanning 34 African countries.
***Related: ***Fintechs and neobanks drive the next era of stablecoin adoption