Cryptocurrency News & Updates

DeFi Compliance Pioneer Astra Secures $9 Million in Private Sale: Details

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Astra protocol is able to raise $9 million from a plethora of credible VCs to help develop its KYC/AML toolkit that is decentralized

Astra Protocol aims to create an efficient smart contract infrastructure to ensure conformity and KYC/AML checks within financial protocols that are not centralized. On Dec. 22nd, 2021 Astra Protocol released the information regarding its sale to private parties.

Astra completes private financing round, securing $9 million.

In the official announcement released by the team behind the Astra startup, the private token sale has been successfully concluded. A total of $9,000,000 has been obtained from a variety of top-of-the-line investment funds as well as angel investors.

A number of companies including Republic, DAOMaker, Fundamental Labs, Faculty, Richard Dai and Wave GP Cardano backed the team behind the protocol’s fundraising efforts.

Jonathan Han, partner at Republic said he attributed the eye-watering success to the singularity and significance of the Astra proposal for the entire sector of decentralized finance:

We believe that Astra’s approach is an important component of the crucial trend to bring DeFi popular. We are delighted to be a part of the Astra team that is working tirelessly to make the benefits of DeFi to a wider range of individuals and businesses.

In the wake of this announcement, Astra scored a number of alliances with world-class companies in audit and legal globally in the field of crypto.

Moving cryptocurrency’s compliance into smart contracts

Astra Protocol co-founder Arthur Ali is confident that the investment will help fuel the next critical steps of the advancement of his product as well as advance methods of compliance for DeFi:

We are thrilled to announce the conclusion of our token sale and are proud to announce the strong support of the best investment firms and individuals like Republic, DAOMaker, Richard Dai, Fundamental Labs, and even institutional backing. We are convinced that ASTRA is essential in the direction of DeFi. It will enable us to discover the next avenue of growth for the field, while enabling more regulated practices across a variety of countries , and also allowing for greater involvement from the major traditional institutions.

Astra Protocol is set to create a security layer that is decentralized that will increase trust and transparency within DeFi protocols on all blockchains.

As mentioned by U.Today earlier, Astra Protocol addresses crucial issues of legal compliance in both the Web3 and DeFi Web3 areas. The Astra Protocol instruments are implemented. DeFi protocols are now fully legal and compliant, even if they are they are launched in countries that are hostile to crypto.

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