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TransUnion will let consumers give blockchain companies access to their personal credit data through the security firm Spring Labs’ ky0x Digital Passport. Consumers will be able to receive better interest rates when borrowing money from financial-services companies that operate on public blockchains such as Ethereum by providing this information, the companies said.
“Enforcing know-your-customer and anti-money-laundering checks is a necessary first step, but a general perception that regulations would be naturally less effective on DeFi might prove a major obstacle going forward in terms of regulators allowing DeFi to transition into the mainstream,” said the bank’s analysts.
https://www.wsj.com/articles/transunion-brings-credit-data-checks-to-crypto-lending-11641992403
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