Liquid Inc. Expands Into Southeast Asia To Provide Best-In-Class “LIQUID eKYC” Authentication Capability In Web3 Gaming

CSA Editorial July 20, 2022

2 minutes read

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.

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 the 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.

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