Socure has partnered with the Stellar Development Foundation to bring Socure Pass, its reusable identity product, to Stellar ecosystem apps.
With Socure Pass, users verify their identity once and can then share their verified status with other participating apps in seconds, with their permission. The product addresses repeated identity checks in digital finance: a person sending money across borders may be verified by a remittance provider, again by a wallet, and again by an issuer of regulated assets, with on- and off-ramps adding further checks. Each repetition increases the chance that users abandon the process and adds verification costs for early-stage builders.
How Socure Pass works
Socure Pass is built on Socure’s identity graph. Users create a Socure Pass and verify their identity once using a document scan and a live selfie. When another participating Stellar app later asks for identification, they can share their verified status in seconds instead of repeating the full process. If a verification becomes out of date or invalid, Socure Pass asks the user to verify again, so that apps can continue to rely on the result.
Applications in the Stellar ecosystem can serve the same users across payments, wallets, and regulated digital assets, and as more of them integrate Socure Pass, users will be able to reuse an existing verification across more services. For builders, shared verification reduces the cost of running separate identity checks for the same customers. The collaboration comes as stablecoins and digital assets play a growing role in payments, settlement, and treasury operations.
Identity across applications
Steve Goldstein, Head of Blockchain, Crypto and Digital Payments at Socure, stated that as digital financial services become more connected, identity needs to work across applications rather than only within them. According to Goldstein, the collaboration with Stellar is a step towards making trusted identity a reusable part of the financial ecosystem, while maintaining the level of assurance that regulated use cases require.
Socure provides identity verification, compliance, and fraud prevention services using AI and machine learning to more than 6,000 customers in more than 190 countries. Its clients span financial services, government, gaming, health care, telecommunications, social media, marketplaces, and ecommerce, and include US banks, crypto exchanges, public sector organisations, and more than 700 fintechs.
