On September 5, 2023, Bitkub Online Company Limited, a leading digital asset trading service provider in Thailand, officially announced its collaboration with National Digital ID Company Limited (NDID) to integrate a digital identity verification system into the company's Know Your Customer (KYC) process for digital asset accounts.
Mr. Bunsan Prasitsamrit, President of National Digital ID Company Limited, emphasised the security and compliance of NDID's platform, stating, "NDID provides a secure identification and verification system that adheres to the Electronic Transactions Act standards. Our platform enables 100% online e-KYC, a method already validated for bank account openings. The Anti-Money Laundering Office (AMLO) recognises its suitability for digital asset account openings. Importantly, NDID does not store any user information and maintains clear legal records for all transactions."
Mr. Atthakrit Chimphalapiboon, Chief Executive Officer of Bitkub Online Company Limited, discussed how NDID's integration would enhance customer service. He explained, "Bitkub Online has always prioritised product development and customer service. We adapt to new regulations while seeking ways to enhance our systems. NDID aligns with our customer-centric approach. Customers can now verify their identity through our mobile application, eliminating the need to visit physical locations. Additionally, NDID can retrieve information from customers who have accounts with other service providers, reducing the need for redundant data entry. NDID becomes an additional identity verification channel, providing convenience to our customers."
Mr. Phongsakorn Sutantayawalee, Chief Product Officer of Bitkub Online Company Limited, elaborated on how NDID enhances trust in the platform. He stated, "NDID connects with registration and identity verification service providers (IdPs) like banks, ensuring authenticated customer data. Many customers already have IdP applications on their phones, making identity verification more convenient when integrated with Bitkub. Furthermore, NDID's adherence to numerous standards and its blockchain-based, decentralised system, administered by National Digital ID Company Limited, instils confidence in how we manage customer information from development to delivery."
NDID, short for National Digital ID, is a digital identity verification service operating under the regulatory sandbox of the Bank of Thailand. It allows users to apply for services through various online channels, enhancing convenience and the reliability and security of online transactions.
Bitkub Exchange introduces the NDID system as an additional option for identity verification at 7-Eleven stores' Counter Service points (Dip Chip) to facilitate Bitkub Exchange users. The NDID identity verification system for Bitkub Exchange customers has been available since September 15, 2023.
For registration with each service provider, please refer to the following links:
- Siam Commercial Bank (SCB) [Click]
- Bangkok Bank (BBL) [Click]
- Bank of Ayudhya (BAY) [Click]
- Kasikorn Bank (KBANK) [Click]
- Kiatnakin Phatra Bank (KKP) [Click]
- CIMB Thai Bank (CIMB) [Click]
- Government Housing Bank (GH BANK) [Click]
- TMB Thanachart Bank (TTB) [Click]
- Government Savings Bank (GSB) [Click]
- Bank for Agriculture and Agricultural Cooperatives (BAAC) [Click]