ASTRA Protocol and Squire Patton Boggs announce landmark crypto compliance partnership

Squire Patton Boggs and ASTRA Protocol have announced a new partnership to give assurance and compliance confidence to the decentralized finance (DeFi) ecosystem, Invezz learned from a press release.

Squire, one of the world’s leading full-service legal companies for ensuring cross-border compliance counselling, maintains business offices on four continents. Their ecosystem also includes strategic working relationships with independent companies operating in European and Latin American markets.

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They share their industry expertise and extensive practice through one of the most advanced tech platforms in the legal industry. The company applies industry knowledge as well as project-management tools to improve the overall value of their legal services and implement regular business process enhancements.

Cutting edge compliance layer

Astra Protocol, a cutting-edge legal and compliance layer, is famed for its unmatched support for public blockchains. They offer a decentralized assurance layer on public blockchains to augment exponential growth of DeFi even though current blockchain and crypto firms have created challenges for regulatory authorities throughout the world.

Joe Crowley, Senior Policy Advisor at Squire Patton Boggs, said:

We are pleased to partner with the ASTRA Protocol team and are looking forward to working with their colleagues around the globe. ASTRA is the preeminent compliance protocol business within the DeFi industry that is able to give assurance to regulatory agencies as well as individual clients, which in turn will help boost confidence in DeFi’s legitimacy as a global industry.

Sakhib Waseem, Chief Innovation Officer at ASTRA Protocol, added:

We are extremely pleased with our partnership with Squire Patton Boggs and look forward to working with Congressman Crowley and his organisation. As we at the ASTRA Protocol define the next generation of decentralised global compliance structure across the DeFi industry, it is important to have key partners who understand the needs of both the crypto community and are in tune with the latest changes in the regulatory space.

Anti-fraud guarantee

To make sure funds arrive at their intended destination, Astra’s assurance layer plugs into an existing DeFi platform. The protocol prevents invalid or insecure smart contracts from being carried out. Astra can restore funds immediately if a transaction turns out to be fraudulent or if the funds end up in the wrong crypto wallet address.