Astra partners with legal firm to bolster compliance and assurances in DeFi

ASTRA Protocol has partnered with legal firm Squire Patton Boggs to provide DeFi platforms with greater security and confidence when navigating the thriving DeFi ecosystem.

Astra Protocol, a legal and compliance ‘layer’ that provides assurance to public blockchains, will work with the legal firm to “give assurance and compliance confidence to the decentralized finance (DeFi) ecosystem” via its ‘decentralised assurance layer’.

Additionally, Squire Patton Boggs will accept the newly released ASTRA token as its first DeFi payment method.

Sakhib Waseem, Chief Innovation Officer at ASTRA Protocol, commented on how the partnership can help bring greater compliance understanding to the DeFi space.

“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,” he said.

“Squire Patton Boggs have a great presence across the US and internationally, this partnership is another affirmation we have the latest understanding of regulatory enhancements around the world and can provide an industry-leading standard to our customers and clients.”

Astra’s assurance layer is able to ‘plug into’ an existing DeFi platform and ensure that funds arrive safely at their intended destination.

The protocol is developed to prevent insecure or invalid smart contracts from executing, meaning that if a transaction turns out to be fraudulent or if the funds are sent to an incorrect wallet address, Astra can resolve the dispute and restore the funds right away, while also following applicable regulatory guidelines.