Ōura, makers of the wellness wearable Oura Ring, announced the acquisition of Proxy, a stealth startup innovating with digital identity products. Proxy also held a portfolio of smart ring patents that Oura takes ownership of. Proxy uses biometrics as a form of identification stored on mobile devices. Ōura CEO Tom Hale said it can be integrated to expand the way the company processes payments, access, security and identity. It could have Web3 applications as well.
“As the healthcare landscape continues to evolve with the development of new technologies, encryption, and digital identity will become pivotal to enabling data privacy across industries for a frictionless security experience," Michael Chapp, Ōura COO, said in a statement.
