Woofun AI reports that Ava Labs and NEC Corporation have signed a Memorandum of Understanding to explore a unified solution for identity verification and stablecoin settlement. The collaboration aims to address issues such as transaction anonymity, redundant identity checks, high compliance costs, and excessive personal data exposure.

NEC will provide the identity layer via its FaceVC technology, while Avalanche contributes the blockchain infrastructure. The system utilizes three specialized chains: a permissioned L1 for SETTL stablecoin settlement, and the C-Chain for reward tokens and promotional NFTs. Payments by international tourists in Japan will be processed through this framework, with FaceVC handling both identity verification and settlement in a single step. NEC's biometric systems are deployed in 70 countries, covering 12 million users and 1,000 identification systems, with a false rejection rate of 0.06% in NIST FRTE 1:N benchmarks.