​Neobank introduces soulbound NFTs for wallet holders’ KYC inf | Crypto Sale

​Neobank introduces soulbound NFTs for wallet holders’ KYC information

The neobank Cogni has announced that it is rolling out soulbound nonfungible tokens containing Know Your Customer (KYC) information to holders of its crypto wallet. The Polygon-based NFT will transfer customers’ “Web2” KYC verification done by the bank at account opening into a Web3 environment.

Cogni, which has United States Federal Deposit Insurance Corporation coverage through a traditional New York bank, introduced its noncustodial multichain crypto wallet in January. Users can send, receive and hold cryptocurrencies and NFTs in the wallet. Users can optionally mint the nontransferable soulbound NFT, which decentralized apps (DApps) can then decrypt with the owner’s permission.