November 2, 2023

Shyft and Unocoin Team Up to Amplify User Trust and Crypto Compliance

Shyft and Unocoin Team Up to Amplify User Trust and Crypto Compliance

We are delighted to announce a strategic partnership between Shyft Network and Unocoin, two pioneering companies in the cryptocurrency and blockchain ecosystems. This collaboration is aimed at leveraging Shyft Network’s groundbreaking identity verification and compliance protocols, along with Unocoin's robust cryptocurrency exchange and services, to facilitate a more secure and compliant crypto environment.

Scope of Partnership

Shyft Network has developed Veriscope, a smart contract-enabled data coordination infrastructure designed to provide a global discovery and validation ecosystem. 

Unocoin will participate as a "Trust Anchor" within the Shyft Network to make use of Veriscope for the purpose of complying with the FATF Travel Rule

As part of this collaboration, Unocoin will create a trust anchor account, assign unique Shyft Network addresses to its user accounts, and be an active participant within the Shyft Network ecosystem.

The Road Ahead

This partnership symbolizes the intersection of innovation and compliance, reflecting our collective commitment to offering secure, efficient, and regulatory-friendly cryptocurrency services. By combining Unocoin’s market expertise with Shyft Network’s cutting-edge identity verification and compliance technologies, we aim to set a new standard for security and trust in the cryptocurrency space, not just in India but globally.

We are genuinely excited to embark on this journey and look forward to the long-term value it will create for our users and the broader community.

About Shyft Network

Shyft Network is a public blockchain protocol designed to aggregate, embed, and leverage trust, validation, and discoverability to facilitate public and private data transfer between permissioned and permissionless networks. By encouraging individuals and enterprises to collaborate, Shyft Network successfully adds a layer of context on top of data, ultimately turning raw data into meaningful information. 

About Unocoin

Unocoin, founded in 2013, is India’s first and leading Bitcoin company headquartered in Bengaluru, Karnataka. Serving more than 2.41 million customers, Unocoin offers a comprehensive suite of services that includes buying and selling cryptocurrencies, OTC trading, mobile access, auto-selling features, and a systematic buying plan for Bitcoin and Ether. Unocoin’s platform also allows merchants to accept cryptocurrencies and enables users to recharge their cell phones or top up their wallets using Bitcoin.