Prove partners with Paxful to make crypto integration easier and more secure

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LAS VEGAS – (BUSINESS WIRE) – Today, Prove, the modern way for businesses to enable their customers to prove their identity with a simple phone, kicked off the Money20 / 20 2021 conference in Las Vegas by announcing a new partnership with Paxful, the world’s leading peer-to-peer fintech platform with more than seven million users. By joining Prove’s growing list of top financial institutions, including 2 of the top cryptocurrency exchanges, Paxful can now deliver a smoother customer experience and onboarding process while improving accessibility to the exchange and mitigating simultaneously fraud.

Ray Youssef, CEO and Co-Founder of Paxful, said of the new partnership: “We are delighted to partner with Prove. There is no denying the growing interest in crypto investments – however, the industry has faced two major issues – accessibility and security. Our partnership with Prove will provide a seamless onboarding process for new users, enhancing the safety and security of the entire community of our platform.

After integrating Prove’s phone-centric identity solutions including Prove Pre-Fill ™, Identity Verify ™ and Trust Score ™, Paxful expects to be able to securely onboard customers in 10 seconds or less. Plus, with security features already approved by eight of the top ten banks, Prove’s solutions are proven to reduce fraud by an average of 75% compared to attack rate.

Prove’s Trust Score ™ is a real-time measure of phone number reputation that can be used for identity verification and authentication purposes. The Trust Score analyzes behavioral and Phone-Centric Identity ™ signals from authoritative sources at the time of a potential transaction to mitigate fraud such as SIM swap fraud and other take-over patterns account. Customers can use Trust Score to secure the customer experience in multiple scenarios, from digital onboarding to digital service and authenticating existing customers.

“Prove is proud to play a role in advancing Paxful’s mission of creating a financial system that serves the 100%, not just the 1%,” said Rodger Desai, CEO of Prove. “Prove’s approach to phone-centric identity will allow Paxful to approve legitimate customers in real time and ensure that its platform is a safe place to interact. By providing the best authentication technology over the phone, Prove will help Paxful maintain its rapid growth by accelerating integration and mitigating fraud.

Learn more about Prove’s offerings for cryptocurrency organizations at prove.com.

About to prove

Prove is the modern way for businesses to allow their customers to prove their identity with a simple phone. We provide phone-centric solutions that enable our customers to acquire new consumers and interact with their existing consumers by eliminating friction while enhancing security and improving privacy and consumer choice. Our solutions are used by more than 1,000 businesses in a variety of industries, including banking, financial services, healthcare, insurance and e-commerce. For the latest updates from Prove, follow us on LinkedIn.

About Paxful

Paxful is a peer-to-peer fintech platform designed for more than seven million people worldwide in need of equal access to finance. Paxful provides access to nearly 400 different payment methods for its users to buy, sell and trade digital currencies such as Bitcoin (BTC), Ethereum (ETH) and Tether (USDT), allowing them to make payments, transactions and to send money as a medium of exchange. For more information on Paxful, please visit: https://paxful.com/

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