Dibbs Taps Socure for ‘Know Your Customer’ Platform, Identity Verification

Socure, which provides digital identity verification and fraud solutions, has announced that Dibbs, the real-time blockchain marketplace, will be using its platform to provide a better onboarding experience, a press release said.

Dibbs lets collectors buy and sell fractions of physical collectibles in real time, minting collectibles as NFTs to give customers access.

Dibbs will be using Socure’s ID+ as its identity verification and fraud platform. By using the platform, Dibbs says it will be able to “unlock, scale and speed up customer acquisition.” And Dibbs will be able to use the single API and no-code customization dashboard, which accelerates the process.

Dibbs expects a 20% bump in first-time deposits from this, with new customers being able to be verified quickly.

Dibbs co-founder and CEO Evan Vandenberg said the new technologies improve customers’ access as the collectibles market becomes more competitive.

“Modern collectors expect an intuitive onboarding process that’s fast, secure and convenient,” he said. “With Socure, we gain the trust of our customers from the start and accelerate first deposits without opening ourselves up to fraud.”

Meanwhile, Johnny Ayers, founder and CEO of Source, said the work with Dibbs lets “more good customers in and keep bad actors out, while substantially increasing potentially the most valuable metric in deposit conversion rates.”

PYMNTS wrote that last year Dibbs announced a $13 million Series A funding round.

See also: Sports NFT Marketplace Dibbs Secures $13M In Funding

That included some “high-profile athletes” among its investors, the report said.

Dibbs was launched in beta in March 2021, and assigns physical assets NFTs, which are then fractionalized on blockchains. There are smart contracts to determine ownership and other rights.