Saudi Parallel Market (Nomu)

Parallel Markets Acquires Passbase: Accelerating A New Era of Portable, Reusable Identity

Retrieved on: 
Tuesday, March 28, 2023
Saudi Parallel Market (Nomu), KYB, McGibbon, KYC/AML, USD, Knowledge, AML, Acquisition, Parallel, UN, Growth, KYC, Cryptocurrency

NEW YORK, March 28, 2023 /PRNewswire/ -- Parallel Markets, the pioneer in reusable identity, announced today that it has acquired specific assets of Passbase, a digital identity verification company.

Key Points: 
  • NEW YORK, March 28, 2023 /PRNewswire/ -- Parallel Markets, the pioneer in reusable identity, announced today that it has acquired specific assets of Passbase, a digital identity verification company.
  • Parallel Markets, the pioneer in reusable identity, has acquired assets of Passbase, an identity verification company.
  • With this acquisition, Parallel enhances its capabilities and cements its role as a leading provider of portable, regulatorily compliant KYC.
  • "Passbase has been a leader in the portable, reusable identity space," said Parallel CEO Tony Peccatiello.

Parallel Markets Participates in Portable Identity Ecosystem Built on Centre’s Verite Protocols

Retrieved on: 
Wednesday, November 16, 2022
Professional Services, Finance, USD Coin, Money, Decentralized finance, KYC, USDC, Parallel, Sum, Identity theft, PII, News, Entrepreneurship, Privacy, Friction, NFT, Circle, Architecture, Web 2.0, Research, Saudi Parallel Market (Nomu), MetaMask, Growth, Ecosystem, Organization, Commerce, KYB, Identity, Cryptocurrency, Coinbase, Verite

The Verite standards enable users to take true custody of their data and identity in a way that is secure and portable, turning any crypto wallet into an off-chain identity wallet.

Key Points: 
  • The Verite standards enable users to take true custody of their data and identity in a way that is secure and portable, turning any crypto wallet into an off-chain identity wallet.
  • Launched in February 2022 with the support of industry leaders, Verite was created as a set of decentralized identity protocols that allows users to transport their credentials throughout the crypto ecosystem.
  • In addition to Parallel Markets, identity verification firms 1Kosmos and Sum & Substance, enterprise wallet vendor Arculus, decentralized identity integrators walt.id, investor accreditor InvestReady, and others have committed to prototyping on the Verite standards and extending the ecosystem into new use cases.
  • Parallel supports verifications for both individuals and entities with an entire suite of identity products to help make onboarding processes more streamlined.

Circle and Industry Leaders Have Built the First Decentralized Identity Proof-of-Concept for Crypto Finance using Verite Credentials

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Tuesday, October 4, 2022
USD Coin, Ethereum, Truffle, Web 2.0, ConsenSys, Entrepreneurship, DIDS, USDC, Ecosystem, Daos, Privacy, KYB, Compliance, CEO, Multimedia, MetaMask, Adoption, Blockchain, Goal, Decentralized finance, Parallel, Circle (company), Saudi Parallel Market (Nomu), Internet, NFT, Organization, Commerce, Cryptocurrency, Web3, Circle, Optimism, Verite

BOSTON, Oct. 4, 2022 /PRNewswire/ -- Together with Archblock, the team behind the TrueFi protocol, MetaMask Institutional and Parallel Markets, Circle Internet Financial has built the first proof-of-concept for "know your business" (KYB) verification using Verite for decentralized digital identity credentials.

Key Points: 
  • Circle intends to issue KYB credentials free of charge to its customers and accredited institutions.
  • We are excited to partner with Circle, Verite, and TrueFi to explore ways for businesses to more seamlessly interact within Web3."
  • "Working with Circle to leverage the Verite credential provides critical infrastructure needed to guide Institutions into the decentralized world with confidence.
  • Circle joined other crypto and blockchain companies in February 2022 to introduce Verite as a open-source framework for decentralized identity credential issuance, custody and verification.

Parallel Launches First-Ever Web3 KYC/AML Compliance Solution

Retrieved on: 
Wednesday, September 7, 2022
Accreditation, Solution, KYC/AML, Ownership, PII, Saudi Parallel Market (Nomu), Web 2.0, Web3, Compliance, KYC, Union Square Ventures, Fraud, PID, Industry, Comcast, OFAC, Adoption, Parallel, Cryptocurrency, Ethereum

NEW YORK, Sept. 7, 2022 /PRNewswire/ -- Parallel Markets, an identity infrastructure company, announces the launch of the Parallel Identity Token, the first-ever regulatorily compliant KYC/AML solution for Web3.

Key Points: 
  • NEW YORK, Sept. 7, 2022 /PRNewswire/ -- Parallel Markets, an identity infrastructure company, announces the launch of the Parallel Identity Token, the first-ever regulatorily compliant KYC/AML solution for Web3.
  • Parallel Markets launches the Parallel Identity Token: the first-ever regulatorily compliant KYC/AML solution for Web3.
  • The PID Token is a fully on-chain, non-transferable identity token that preserves the Web3 principles of decentralized anonymity while confirming critical aspects of a wallet owner's identity.
  • About Parallel Markets:Parallel Markets is an identity infrastructure company serving over 75 financial institutions across the Web2 and Web3 ecosystems.

Former Carta CCO joins Parallel Markets

Retrieved on: 
Friday, February 4, 2022
Entrepreneurship, Leadership, Parallel, UBS, Ecosystem, Compliance, Wall Street, Financial technology, Business, Saudi Parallel Market (Nomu), South Carolina Law Enforcement Division, Solution, Mobile phone, Management, Carta

As the Chief Legal and Compliance Officer for the fast-growing startup, Carta, Suzanne has gained significant understanding and insightaround the unique issues confronting the FinTech industry.

Key Points: 
  • As the Chief Legal and Compliance Officer for the fast-growing startup, Carta, Suzanne has gained significant understanding and insightaround the unique issues confronting the FinTech industry.
  • She is a unique talent with incredible experience that will help take Parallel Markets to the next level," said Tony Peccatiello, Co-Founder and Chief Executive Officer at Parallel.
  • Having integrated with dozens of the leading online investment platforms and pioneering Web3 on-chain identity, Parallel is the identity infrastructure of the future.
  • By democratizing access to previously unavailable asset classes, including startups, real estate and farmland, Parallel is at the forefront of the rapidly evolving private market ecosystem.

Portable Identity Company Parallel Markets Announces Series A, led by Union Square Ventures

Retrieved on: 
Thursday, February 3, 2022
Growth, Passport, Eniac Ventures, Parallel, Ecosystem, KYC/AML, Technology, Board, Lux Capital, Compliance, Comcast Ventures, Saudi Parallel Market (Nomu), Director, Union Square Ventures, Cryptocurrency

With rapid growth in new investing platforms, each with redundant verification requirements,the need for a financial identity Passport has only become more apparent.

Key Points: 
  • With rapid growth in new investing platforms, each with redundant verification requirements,the need for a financial identity Passport has only become more apparent.
  • Parallel Markets is the creator of the Parallel Passport - a robust, portable digital identity solution that satisfies regulatory KYC/AML, Customer Due Diligence Rule and investor accreditation requirements.
  • The round was led by Union Square Ventures, with participation from new and existing investors, including Comcast Ventures, Eniac Ventures, Lux Capital, RiverPark Ventures and Supernode Ventures.
  • John Buttrick of Union Square Ventures will be joining the Board of Directors.