LuxTrust and fintech blockchain startup SnapSwap launch partnership for trusted digital identity implementation in mobile money messenger Gloneta

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LuxTrust, the leading provider of digital identity, strong authentication and trust services in Luxembourg, and SnapSwap, an innovative fintech startup, have combined their strengths for the to commercially release of Gloneta, an innovative mobile payment application

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07/10/2016 | Partenariat
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A partnership has been signed between the two players in the presence of the Minister of Economy, Mr. Etienne Schneider, who congratulated both companies for having managed to combine their skills and their expertise to develop an innovative service based on both blockchain and digital identity.

Gloneta integrates instant cross-currency transactions into a mobile messenger (chat), leveraging the revolutionary blockchain technology. Based on its expertise in managing trusted digital identities, LuxTrust will provide secure customer identification and authentication services to the new App Gloneta App.

Sending money in a chat-application
Gloneta is a mobile application which, for the first time, extends the social networking experience by providing the opportunity to transfer money. It offers an easy way to send money instantly to people in their own and foreign currencies. Gloneta implements blockchain technology to allow instant money transfers directly from user to user (so-called peer-to-peer), without using a bank as intermediary, at zero or very low cost.

To access Gloneta, end users have only to complete the registration and identity verification procedure once. The new partnership between SnapSwap and LuxTrust allows LuxTrust subscribers to open Gloneta accounts and access service without any additional verification, almost in one click. The integration of LuxTrust within the Gloneta App allows end users to be fully authenticated and thereby to execute high-level secured money transfers.

Gloneta has been available on iOS and Android in all EU countries since the beginning of September 2016 and supports Euros, Pounds Sterling and US Dollars. Other currencies and new functionalities will follow shortly, such as contactless mobile payment solutions.

A unique partnership with a huge potential allying trusted cyber security and blockchain fintech
Mobile peer-to-peer payments using blockchain technology have a huge potential for the near future when everything will become increasingly digitized and mobile. Offering access to payment services with strong and trusted digital identity without additional verifications sets great challenges. By jointly developing brand a new approach to customer onboarding and authentification, LuxTrust supports SnapSwap to offer secure implementation of digital identity for a seamless user experience.

Pascal Rogiest, CEO of LuxTrust: “LuxTrust benefits from considerable expertise and a well-established customer base in end-to-end processes of creating and managing trusted digital identities, and in the associated delivery of trust services compliant with national and European regulations. Our expanding services portfolio supports our growth ambition through partnership opportunities where online identification, strong authentication and qualified electronic signatures are required. LuxTrust continues to seek out innovations in digital identity management to stimulate the connected society - and smart economy as a result. The cooperation with SnapSwap fits perfectly with LuxTrust’s new strategy to expand its services internationally while maximizing the user experience through innovation. We are proud to have been selected by SnapSwap to secure identification of their blockchain-based mobile payment application.”

Denis Kiselev, Founder and CEO of SnapSwap: “Our unique integration with LuxTrust digital identity service will help us to speed-up customer onboarding procedures and to build financial communication products that our customers love and share. We will continue building Gloneta in a way that delivers real value to our customers and at the same time let them have fun and enjoy the experience.”

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