Web3 identity layer idOS completes $4.5 million financing, led by Fabric Ventures.

ChainCatcher news, the Web3 identity layer idOS has completed a $4.5 million financing round, led by Fabric Ventures. idOS has currently formed an alliance with Arbitrum, Circle Ventures, RippleX, GnosisDAO, NEAR Protocol, and others. This alliance aims to develop the Web3 identity layer and promote the adoption of decentralized identity across the Web3 space.

According to reports, idOS is a decentralized data storage and access management protocol. It enables the ecosystem to provide an identity layer for dApps to address compliance-related user onboarding issues and significantly reduce friction. For users, idOS offers control over their data and the ability to decide with whom to share their data.