Polygon ID Becomes Independent, Renames to Privado ID

According to Foresight News, Polygon ID has become independent from Polygon Labs and has been renamed as Privado ID, with plans to expand beyond the Polygon network. Privado ID is establishing partnerships with on-chain and institutional organizations, including multinational banks and financial service companies, for concept validation. The aim is to develop an interoperable and compliant identity framework, such as ensuring that only eligible participants can participate in certain DeFi primitives through verifiable credentials. Privado ID is also integrating with the Verax attention registry on the Linea zkEVM chain developed by Consensys. This is intended to enhance cross-chain identity, prevent false identities, reduce the cost of managing trusted data, and assist applications in quickly establishing user reputation with verified data. The Privado ID team includes Polygon co-founder David Schwartz, Antoni Martin serving as CEO and COO, key figure in Polygon zkEVM development Jordi Baylina as technical advisor, and Polygon Labs co-founder Sandeep Nailwal as growth advisor.