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Liquid Inc Expands Into Southeast Asia To Offer Top-In-Class “LIQUID eKYC” Authentication Capability In The Web3 Gaming Space

Liquid Inc, the company behind Japan’s most widely utilised eKYC solution, is expanding into Southeast Asia with its Top-In-Class “LIQUID eKYC” authentication capability. LIQUID eKYC offers top-in-class facial authentication through its unique AI-based image processing capability, enabling smooth identity verification in accordance with the respective legal and security framework in each market.

SINGAPORE, July 19, 2022 /PRNewswire/ — Liquid Inc., the company behind Japan’s most widely utilised eKYC solution “LIQUID eKYC”, is expanding into Southeast Asia with its Top-In-Class authentication capability.

In the first step of this Southeast Asia expansion, Liquid will be partnered with SAKURA GUILD GAMES Pte. Ltd. (SGG) – an organisation investing in Play-to-Earn games, NFTs, and revenue generation from the games through organised play. LIQUID eKYC will be implemented for identity verification at the time of registration for new SGG players.

With the rise of Web3, there has been an explosion of services that create value which can be converted into fiat currency via tokens in more and more services.

As a result of the services being converted to Web3, this has also resulted in losses up to hundreds of millions in financial damage for them that did not cause financial harm, even when they were hacked previously.

A lack of clear regulations and the rapid rise of Web3 services (such as gaming) has made it increasingly necessary to improve the security of services and identification of users in cases of emergency. Currently, firms offering secure and seamless verification services have never been more in demand.

“LIQUID eKYC realises an identity verification process with an extremely low user withdrawal rate through its superior facial recognition and ID document image recognition technologies.” Said CEO of Liquid Inc, Hiroki Hasegawa.

With this in mind, Liquid is expanding the provision of its LIQUID eKYC capability, an online complete identity verification service, to Southeast Asia. LIQUID eKYC features highly accurate identity verification using proprietary AI, biometric, and Optical character recognition (OCR) technologies.

“In fact, LIQUID eKYC has held the No.1 market share in Japan for three consecutive years[1], and by providing this service to Southeast Asia, we will realise identity verification with reduced user abandonment for all services in the Southeast Asian region.” Adds Mr. Hasegawa.

While images taken by smartphones are coarse and difficult to be processed and judged by conventional solutions, Liquid’s unique image processing technology has realised a low withdrawal rate (~3%) and low percentage of unclear images (~1%), as well as high accuracy in automatic face recognition (99.38% ※False Acceptance Rate 1/100,000 or less), enabling smooth identification verification.

LIQUID eKYC has been implemented in a wide range of industries, including banks, cryptocurrency exchanges, telecommunications carriers, antique (second-hand goods) buyers, the sharing economy, dating applications, and metaverse-related services, and has the top share of the eKYC market in Japan for three consecutive years[2].

With its vision to make authentication ubiquitous and effortless for a seamless world, Liquid has plans to expand its service globally. Through utilisation of the know-how accumulated under Japan’s strict law and rule, Liquid will rapidly adapt its operations and services in accordance to the respective legal and security framework in each market.

For more images, please find linked, the press kit for your perusal.

[1] ITR “ITR Market View: Identity Access Management / Personal Authentication Type Security Market 2022” eKYC Market: Sales Value Share by Vendor (FY2019-FY2021 Forecast) 
[2] ITR “ITR Market View: Identity Access Management / Personal Authentication Type Security Market 2022” eKYC Market: Sales Value Share by Vendor (FY2019-FY2021 Forecast) 

About Liquid

Liquid aims to make a seamless world where all 7.7 billion people in the world can easily and safely use all services as they are by automatic and ubiquitous authentication. We provide our own Digital ID, KYC and Authentication service, where users can prove their identity anytime, anywhere in the world with their smartphone or face.

We are expanding our service globally and utilise the know-how accumulated under the Japanese strict law and rule. We adapt our operations and services flexibly and quickly to changes in the required legal and security framework.

For more information, please visit https://liquidinc.asia/global/  

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