One of the world’s leading law firms, Squire Patton Boggs, and internationally-patented ASTRA Protocol, has entered a new partnership following a recent announcement via a press release today.
Squire Patton Boggs is a full-service legal company that ensures cross-border compliance counseling as well as providing insight at the point where law, business, and government meet, to support business-oriented ambitions for more efficiency.
Astra Protocol, on the other hand, is a cutting-edge legal and compliance layer that brings unmatched assurance to public blockchains. The platform aims to equip the DeFi world with a full legal layer.
In a bid to provide a global assurance and compliance confidence to the decentralized finance (DeFi) ecosystem, both companies have decided to partner up and join efforts to achieve the stated aim.
The new partnership will see Squire Patton Boggs accept ASTRA as its first DeFi payment method, while Astra Protocol continues to offer a decentralized assurance layer on public blockchains to support the exponential growth of DeFi.
Astra Seeks Legal Backup to Protect DeFi Users
Astra’s Integration with Squire Patton Boggs reflects its efforts to protect the interests of DeFi users. As such, its collaboration with Squire Patton Boggs provides it with legal support to protect DeFi users.
The platform has been designed to prevent the execution of insecure or invalid smart contracts. In situations where a transaction turns out to be fraudulent or if the funds end up in an incorrect crypto wallet address, then Astra is able to resolve the dispute and restore the funds right away, while also following applicable regulatory guidelines.
The Senior Policy Advisor at Squire Patton Boggs, Joe Crowley commented on the new partnership saying;
“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”
The Chief Innovation Officer at ASTRA Protocol, Sakhib Waseem, also commented on the partnership expressing the company’s delight to collaborate with Squire Patton Boggs. His comment reads;
“We are extremely pleased with our partnership with Squire Patton Boggs and look forward to working with Congressman Crowley and his organization. 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”.