Polygon ID has been rebranded as Privado ID, expanding the digital identity market.

Polygon $ID has spun off from Polygon Labs and rebranded as Privado $ID, aiming to expand into the mainstream digital identity market. According to the information, Privado $ID supports W3C identity standards, is compatible with EVM-based blockchains, and will support non-EVM blockchains in the future. The Privado $ID team includes Polygon co-founders David Schwartz and Antoni Martin as CEO and COO respectively, with Jordi Baylina, a key figure in Polygon zkEVM, serving as a technical advisor, and Sandeep Nailwal, co-founder of Polygon Labs, acting as a growth advisor. The project is currently establishing partnerships with on-chain and institutional organizations, and developing interoperable and compliant identity frameworks with several multinational banks and financial services companies.