Asterizm and Albus Protocol announce strategic partnership to boost KYC/AML procedures for DeFi and tokenized RWA resolution builders
WOLLERAU, SWITZERLAND / ACCESSWIRE / June 7, 2024 / Asterizm, an organization specializing in next-generation interoperability for the RWA market, and Albus Protocol, a decentralized platform for cost-efficient KYC verification, are thrilled to announce a strategic partnership and integration of the Albus Protocol compliance system into the Asterizm ecosystem.
This integration is a logical response to the evolving regulatory panorama within the DeFi market and the tokenized real-world asset (RWA) sector, which will be worth greater than $10 trillion in 2028. One of many key drivers of this improvement is the obligatory implementation of KYC/AML procedures for market individuals.
Asterizm is a next-generation interoperability layer that enables seamless communication between private and non-private chains for DeFi protocols & TradFi establishments working with tokenized property. Albus Protocol is a decentralized KYC verification platform that gives immediately built-in on-chain procedures with built-in compliance assurance. The combination of the Albus Protocol platform will allow DeFi initiatives, RWA protocols, and initiatives constructing their dApps on Asterizm to seamlessly make the most of easy-to-use and cost-efficient KYC infrastructure.
Denis Polulyakhov, co-founder of Asterizm, commented:
“We wish to present builders who select Asterizm not solely with our cross-chain communication protocol but in addition with a set of ready-made integrations with market-leading options. It will give them flexibility in improvement and the flexibility to save lots of time and assets when constructing merchandise on the Asterizm platform. We have already got integrations with Fireblocks and Chainlink, for instance. We extremely worth the answer offered by the Albus crew and imagine it would match completely into our ecosystem. Given our ongoing work on the Liqvid protocol and the need to adjust to present and upcoming laws, we plan to combine Albus’s resolution into our lending protocol as nicely.”
Alexander Ray, CEO & Co-founder of Albus Protocol:
“Creating KYC and AML protocols in-house takes months, if not years, and can set the corporate again thousands and thousands of {dollars}. The largest banks on the planet spend as much as $500 million yearly on KYC alone, with a mean spending of $50 million. By providing Asterizm prospects 1,000 free KYC verifications, we wish to reveal that on-chain compliance may be an inexpensive and painless enterprise course of that opens up new alternatives with the proper companions.”
Moreover, Asterizm introduced the event of Liqvid – a cross-chain lending protocol based mostly on its proprietary cross-chain messaging expertise. Scheduled for launch in September 2024, Liqvid will allow tokenized RWA holders to earn extra yield and borrow liquidity throughout varied chains utilizing their tokenized RWAs as collateral. Liqvid may even make the most of Albus’s KYC/AML options.
About:
Albus Protocol is a Web3 app for KYC verification. Its cost-efficient compliance options make KYC a reasonable and simple course of for companies. Because of its privacy-preserving and decentralized design, customers present process KYC can do it privately, whereas controlling their private information and sharing solely what they wish to share.
Media Contact:
Julia Sabitova
PR-Director, Albus Protocol
js@albus.finance
https://albus.finance/
Sergey Mnatsakanov
Chief Partnership Officer, Asterizm
relations@asterizm.io
https://asterizm.io/
SOURCE: Albus Protocol
View the unique press release on accesswire.com
