Asterizm and Albus Protocol announce strategic partnership to boost KYC/AML procedures for DeFi and tokenized RWA answer 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 likely be price greater than $10 trillion in 2028. One of many key drivers of this improvement is the obligatory implementation of KYC/AML procedures for market members.

Asterizm is a next-generation interoperability layer that permits 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 straight built-in on-chain procedures with built-in compliance assurance. The combination of the Albus Protocol platform will allow DeFi tasks, RWA protocols, and tasks 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 want to provide developers who choose Asterizm not only with our cross-chain communication protocol but also with a set of ready-made integrations with market-leading solutions. This will give them flexibility in development and the ability to save time and resources when building products on the Asterizm platform. We already have integrations with Fireblocks and Chainlink, for example. We highly value the solution provided by the Albus team and believe it will fit perfectly into our ecosystem. Given our ongoing work on the Liqvid protocol and the necessity to comply with current and upcoming regulations, we plan to integrate Albus’s solution into our lending protocol as well.”

Alexander Ray, CEO & Co-founder of Albus Protocol:

“Developing KYC and AML protocols in-house takes months, if not years, and will set the company back millions of dollars. The biggest banks in the world spend up to $500 million yearly on KYC alone, with an average spending of $50 million. By offering Asterizm customers 1,000 free KYC verifications, we want to demonstrate that on-chain compliance can be an affordable and painless business process that opens up new opportunities with the right partners.”

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 further yield and borrow liquidity throughout numerous chains utilizing their tokenized RWAs as collateral. Liqvid can 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 an affordable and straightforward course of for companies. Because of its privacy-preserving and decentralized design, customers present process KYC can do it privately, whereas controlling their private knowledge and sharing solely what they need 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

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