ATB Ventures' Oliu Selected by PayTrie to Deliver State-of-the-art Digital ID Verification for Cryptocurrency Trading

CALGARY, AB, Dec. 5, 2023 /CNW/ - ATB Ventures, the research and innovation arm of ATB Financial, today announced a groundbreaking partnership with PayTrie, a leading platform for secure stablecoin purchasing and selling in Canada. PayTrie has selected Oliu, ATB Ventures' state-of-the-art digital ID verification solution, to streamline customer enrollment and verification processes.

The partnership marks a key milestone as PayTrie becomes the first digital asset platform to integrate Oliu for ID verification. The integration of Oliu enables PayTrie customers to swiftly verify their identities using their existing identity documents, provincial digital IDs, and, uniquely, bank login credentials, in compliance with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) identity verification guidelines. This eliminates the traditional hassles associated with lengthy verification processes and ensures a quick, highly secure and hassle-free onboarding and login experience reducing user drop-off rates.

Speaking about the partnership, Azim Esmail, Managing Director of Growth at ATB Ventures, commented: "The collaboration between Oliu and PayTrie is an immensely exciting one, representing a significant leap forward in enhancing security and convenience for investors. By leveraging Oliu's cutting-edge digital ID verification, we aim to redefine the onboarding experience for PayTrie and its customers, ensuring a swift, highly secure, and user-friendly process."

"At PayTrie, we prioritize user experience and security," said Kevin Zhang, Co-Founder at PayTrie. "Partnering with Oliu enables us to further solidify our commitment to offering a seamless and trustworthy platform for cryptocurrency transactions."

Digital identity and verification serve as the cornerstone of Canada's digital economy. Oliu is positioned to play a pivotal role in shaping the landscape of digital trust, offering businesses robust solutions to mitigate digital fraud in Canada which cost Canadians $531 million in 2022.

For more information about ATB Ventures' Oliu and its partnership with PayTrie, please visit [LINK].

Oliu is a blockchain-identity management solution that makes it easy for businesses to issue, manage and verify digital credentials. Built on open (W3C) standards, Oliu leverages identity frameworks such as the Pan-Canadian Trust Framework (PCTF) and National Trust and Identity Fundamentals to make mobility and interoperability between identity systems possible.

To learn more about Oliu, please visit https://oliu.id/

ATB Ventures is the research and innovation arm of ATB Financial, a leading Alberta-based financial institution. Driving growth at the edges and exploring opportunities beyond financial services, ATB Ventures focuses on helping companies bridge the gap between consumers' increasing concerns about privacy and security, and their desire for more advanced personalized experiences.

To learn more about ATB Ventures, please visit https://atbventures.com/

For media enquiries, please contact Josh Stanbury at [email protected]

PayTrie is the premier stablecoin service, enabling buying and selling of stablecoins, and trusted by Canadians across the country. Committed to security, PayTrie minimizes risk and offers swift user verification for seamless onboarding in just 3 minutes. Whether you're a crypto novice or pro, PayTrie simplifies your journey with low and transparent fees, delivering the best cryptocurrency experience.

To learn more about PayTrie, please visit https://paytrie.com/

SOURCE ATB Ventures