Binance ID to Enable Frictionless User Authentication

Binance ID Powered by OAuth2

Binance, the world’s largest cryptocurrency exchange, announced the introduction of a frictionless, secure login feature known as “Binance ID.”

This is part of the company’s commitment to ensure maximum protection of crypto users and compliance through a transparent KYC (Know Your Customer) verification mechanism.

Binance ID is powered by OAuth2, an industry-standard protocol for authorization and verification on the internet. Therefore, users would be able to “Sign In with Binance,” with a single click similar to Apple and Google logins. In addition, Binance ID could be integrated by other third-party applications, and users would be able to decide whether the third-party application should be granted complete, partial or zero access to their data.

This announcement comes on the heels of the launch of the Binance Account Bound (BAB) token, which is a soulbound token used as a proof of identity for Binance users who have completed their KYC verification.

A verified Binance user ID can only be used to mint one BAB token on BNB Chain. Because BAB tokens cannot be transferred, they serve as an identity credential for Binance and BNB Chain users.

Source