<p>The Korea Information Certificate Authority (KICA) has signed a memorandum of understanding (MOU) with two new business partners — dApp provider PiLab and CODE, a Travel Rule solutions provider and joint venture co-founded by Korean cryptocurrency exchanges Bithumb, Coinone and Korbit — according to local news outlet <a href="https://www.khgames.co.kr/news/articleView.html?idxno&#61;221893" rel="noopener noreferrer nofollow">Kyunghyang Games</a>. The three companies’ CEOs attended the signing ceremony and vowed to establish a credible authentication system to contribute to a healthy Web3 environment.</p><h2 id="header-0">Establishing secure and compliant solutions</h2><p>Through this collaboration, the companies plan to leverage their respective capabilities to develop and distribute Web3 authentication services that comply with virtual asset service providers’ (VASPs) Know Your Customer (KYC) verification procedures as well as international standards such as the crypto Travel Rule. “We aim to create a secure and efficient environment for both providers and users of various Web3 services in line with global regulatory trends,” explained Park Do-hyun, CEO of PiLab.</p><h2 id="header-1">Setting new standards</h2><p>Kim Sang-jun, CEO of the KICA, anticipates that the KICA’s expertise and capabilities in identity verification and security authentication in Web2 would help the collaboration become a new benchmark in the Web3 authentication industry. “Eventually, we will expand our services to include SoulBound tokens (SBTs), enhancing identity verification, license certification and attribute certification, solidifying our position as a leading company in the Web3 industry,” he said.</p><p>Furthermore, CODE CEO Lee Sung-mi emphasized the importance of complying with international standards like the crypto Travel Rule for a healthy Web3 service environment. She also pledged to ensure that CODE would use its capabilities to establish a solid connection between VASPs and the Web3 service market.</p><p>This collaboration represents a strategic move towards shaping the future landscape of Web3 authentication and security services, combining the strengths of these companies to meet the evolving needs of the industry.</p>

KICA partners with PiLab and CODE for Web3 authentication services

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