European Business Wallet

A European Business Wallet is a cloud-based identity wallet for organisations: it lets a company issue, hold and present verifiable credentials about itself, from its registration and tax identifiers to its certifications and the people authorised to act for it, so counterparties anywhere in the EU can trust them instantly instead of re-checking documents.

A business wallet differs from a personal one in where it runs and who acts through it. It lives on a server rather than a phone, because an organisation has no single device and its processes are automated: credentials are requested, presented and checked by systems, at volume, without someone tapping a screen. It is also rarely only a holder: the same organisation typically issues credentials to its own customers, suppliers and employees while verifying those it receives. That is what makes KYB checks that take days today resolvable in a single exchange. Credenco's Business Wallet is an implementation of this concept. Access control is a bigger concern for a business wallet than for a personal one, since several employees may need to act on the organisation's behalf, each with a different scope: one person authorised to sign contracts, another only to view credentials, a third to manage the wallet's own settings. That authority itself is typically expressed as a credential, an attestation that a named individual may act for the company within defined limits, so a counterparty can verify not just who the organisation is but whether the specific person presenting a credential is actually entitled to represent it. Because a business wallet often holds credentials with real commercial consequences, such as authority to sign or a certification that gates access to a regulated market, its key management and audit trail typically need to meet a higher assurance bar than a personal wallet used mainly for identity and age checks.

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