Wyre – the leading infrastructure provider in the crypto space – unveiled its software development kit (SDK), Wyre SDK. In what marked a busy Friday for the fast-growing blockchain startup, Republic Protocol (REN) – an open-source protocol powering dark pool exchanges – later announced the forming of a partnership with the San Francisco-headquartered Wyre.
Compliance All Day with Wyre SDK
In alignment with their “mission to promote financial innovation and lower the barriers to entry for entrepreneurs by offering them compliant ports into a regulated fiat world,” Wyre took to introducing Wyre SDK via this announcement on Friday.
Whilst just the first of multiple iterations of its SDK, Wyre maintained that it still represents “the fastest way to jumpstart and build compliant financial applications.” Put another way, teams that have developed a crypto-focused application can use Wyre SDK to compliantly onboard their clients.
For the inaugural version launched Friday, Wyre stated the SDK widget’s “biggest use case” will be to allow decentralized exchanges (DEXs) to instantly onboard and verify customers. Making use of the ERC721 standard – the very same that has given rise to the wave of crypto-collectibles – Wyre will mint a non-fungible, ERC721-compliant token upon verification of any new customer of the Wyre-affiliated DEX(s).
Such a procedure is consistent with Wyre’s recently announced on-chain compliance initiative alongside well-known projects of the cryptocurrency and blockchain ecosystem, including AirSwap (AST), 0x (ZRX), and MakerDAO (MKR).
We’re beyond stoked to announce the Wyre SDK, a simple widget which connects apps to a compliant world. Here’s the quick roadmap:
v1 = 🔎👥 verifying endusers (today)
v2 = 🛫🛬 on/off-ramps for US customers
v3 = 🚀🌕 + countries & payment supporthttps://t.co/bKbQpevGzU
— Wyre (@sendwyre) September 13, 2018
Liquidity to Republic Protocol’s First Dark Pool
Friday saw another of these initiative members, Republic Protocol, announce the advancement of its collaboration with Wyre. In a communiqué issued by Taiyang Zhang (CEO, Republic Protocol), the result of this partnership will “bring liquidity, and Wyre’s industry-leading KYC service to RenEx,” the first dark pool to use the Republic Protocol mainnet.
A predominant player in the burgeoning over-the-counter (OTC) space, Wyre has also pledged to make use of its existing network and assist RenEx in onboarding OTC traders.
What’s more, the aforementioned liquidity being provided by Wyre will see the fintech startup tap into an additional source, courtesy of Republic Protocol’s Liquidity Incentive Program.
Republic Protocol is partnering with @SendWyre to provide liquidity and industry-leading KYC services to Republic Protocol’s first dark pool, RenEx. Read more here: https://t.co/H4hFCLpATG$REN #darkpool #OTC #fintech #KYC #compliance #cryptocurrency #mainnet pic.twitter.com/I6JoFcJXHP
— Republic Protocol (@republicorg) September 14, 2018