AllianceBlock has announced its strategic partnership with MEXC Global in a post on its official blog. The partnership lets MEXC, which is the best cryptocurrency exchange in Asia, add two important tools to its platform and deal with operational challenges.
Initially, MEXC has access to a Nexera ID so that it can be connected to its platform. Companies have used that identity verification platform to bring in a number of users to the Web3 ecosystem. Users’ identities and assets are safe with Nexera ID. It instead provides consumers with complete control over their ID information and assets while enabling businesses to build complicated business operations and regulations.
Nexera ID utilizes self-custodial or custodial wallets to onboard users to the platform.
Integrating Data Tunnel takes the already-established synergies between the partners a bit forward. Data Tunnel is a marketplace that is dedicated to data and powered by the technology of blockchain. Data Tunnel gives users the power to monetize their data.
Additionally, users can subscribe and contribute to the dataset that exists on the network.
Contributions from users can come in any form, including, but not limited to, combining and refining the data set to make it more comprehensive.
AllianceBlock, in its official blog post, has called the integration of the Data Tunnel the first step to building a global DataConomy. Also referred to with a hashtag, DataConomy provides on-chain and off-chain data by leveraging decentralized technology that multiple industries can leverage.
NexeraID and Data Tunnel help partners quickly adapt to the changing regulatory and compliance standards of decentralized finance and blockchain technology. Most importantly, both technologies help businesses create complex compliance workflows that are necessary for their platforms.
Matthijs de Vries from AllianceBlock has expressed excitement about working with MEXC Global. Calling the crypto platform one of the leading exchanges across the globe, the Founder and Chief Technical Officer have said that both will now explore ways to leverage the potential of wallet and identity solutions through Nexera ID and Data Tunnel for data infrastructure.
Per the concluding statement of Vries, MEXC is a strategic partner with whom they will pave the way for an evolved Data Economy. The partnership between MEXC and AllianceBlock is expected to further the goal of AllianceBlock, whereby it wants to encourage the adoption of the Web3 sphere via DeFi solutions and DataConomy.
Headquartered in Singapore, MEXC Global has over 370 cryptocurrencies listed on the platform, with the option to add more than 750 trading pairs to their respective portfolios. Its operations are supported across the globe, except for a few countries. According to a MEXC exchange review, the last registered business volume of MEXC has touched the mark of $4 billion since its inception in 2018.
AllianceBlock and MEXC Global entering into a strategic partnership bring opportunities for both to explore ways of powering up the Web3 sphere while also supporting and protecting users and their data.