LAS VEGAS, Oct. 24, 2017 /PRNewswire/ -- Civic, the company revolutionizing digital identity with its Blockchain-based technology, today at Money 20/20 announces the expansion of its partnership with BitGo. The new initiative adds KYC services to BitGo's new Royal Mint Gold (RMG) wallets, enabling consumers to invest in real gold held by the Royal Mint.
"We're excited to announce that BitGo will be our first full digital KYC partner for the Civic Network, and that we are enabling this important compliance function for their customers," said Civic CEO Vinny Lingham. "We look forward to continuing our relationship and bringing together our services to better serve customers and improve the investing experience."
RMG is a new, innovative gold investment product that is digitally traded using blockchain technology. Purchasers of RMG will have the opportunity to invest in real gold with the ability to trade value on an exchange. The project will initially be available to all UK residents and will expand globally in the coming months.
"We chose the Civic identity solution because of their innovative underlying model which protects consumers and businesses alike. Civic is keeping user data safe in a way which provides higher accuracy for businesses at lower cost," said BitGo CEO Mike Belshe.
RMG was initiated by The Royal Mint (Her Majesty's Treasury) and CME Group in 2016 and aims to change the way gold is traded, executed and settled by making it available for trade with a transparent ledger of ownership and lowering costs.
For more information or to become a Civic business partner, visit www.civic.com.
About Civic:
Civic is a visionary blockchain identity verification technology that allows consumers to authorize the use of their identities in real-time. They are spearheading the development of an ecosystem that is designed to facilitate on-demand, secure, and low-cost access to identity verification services via the blockchain. Civic recently introduced a Civic token that participants in the ecosystem will use to provide and receive identity verification-related services. The company sold $33 million of its tokens during its token sale event in June 2017. For more information, visit https://www.civic.com.
About BitGo:
BitGo is the leader in digital currency security and world's largest institutional wallet provider. As a pioneer of multi-signature technology, BitGo offers B2B products for Bitcoin, Ethereum, Ripple, Litecoin, RMG, and other digital currencies. The company builds the BitGo Offline Vault, an enterprise-grade, secure cold storage solution atop HSMs for both custodial and non-custodial solutions. Finally, the BitGo API is used to transact over $8billion of value monthly across many of the largest businesses in the digital currency markets. Learn more at www.bitgo.com.
CONTACT: Spark PR, civic@sparkpr.com
SOURCE Civic