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Binance Kazakhstan and Biometric.vision signed a partnership agreement
In February of this year, at the Digital Almaty forum, Binance Kazakhstan entered into a strategic partnership with Biometric.vision, a local leader in artificial intelligence and computer vision technologies. This collaboration not only signifies a groundbreaking advancement in financial technology within Kazakhstan but also sets a pioneering precedent for Central Asia. It marks the inaugural occasion where a major financial institution has embraced technology from a local startup instead of an international entity.
The agreement was formalized by Alibek Narimbay, the founder of Biometric.Vision, alongside Zhaslan Madiyev, the Minister of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan. At the time, Madiyev held the position of General Manager of Binance Kazakhstan.
Biometric.vision technology epitomizes a modern approach to biometric identification. It empowers users of Binance Kazakhstan to undergo identity verification seamlessly, without the cumbersome requirement of documents, relying solely on their personal Identification number. This not only simplifies the registration process on the platform but also fortifies security by eradicating the potential for document tampering.
Alibek Narimbay, the CEO of Biometric.vision, emphasized the profound impact of this collaboration on local startups in the artificial intelligence sector. He highlighted that Binance's rigorous testing and preparation, spanning over a year, have validated the company's ability to deliver high-quality and innovative solutions on a global scale.
«Our partnership underscores a paradigm shift in technology development trends within the region. Previously, major financial institutions predominantly favored solutions from foreign developers. However, there is now a discernible shift towards embracing the offerings of the local market. This signals the growing significance and maturation of IT products from Central Asia on the global stage,» said Alibek.
The benefits for users of Binance Kazakhstan are undeniable: they enjoy rapid, user-friendly, and secure access to the platform without the hassle of physical documentation. Moreover, this partnership showcases confidence in Kazakhstani technology firms, paving the way for further advancements and breakthroughs in financial technology.