The exchange is offering an initiative, promoted as a loyalty program. The company offers users some benefits for those who submit their private information, thus leaving behind its scheme that does not require user accounts.
The CEO Erik Voorhees says he hates the thought of collecting users’ personal data on an obligatory basis and wishes that it were not so necessary. Apparently, the head of ShapeShift prefers not to wait for regulators to put the startup into a tight corner, requiring the implementation of KYC rules.
The participants of the membership program will enjoy discounts and bonuses paid out in FOX tokens if the volume of their transactions exceeds a certain level.