Switzerland-based decentralized know-your-customer (KYC) platform Astra Protocol said investment platform Republic will acquire 10 million ASTRA, the protocol's native fixed-supply utility token.

“The events of the last year have made it clear that legitimate crypto and DeFi projects with a long-term strategy can no longer afford to operate outside the bounds of TradFi regulatory frameworks,” said Republic Crypto head Andrew Durgee in a press release. ” Astra Protocol converges the best of both worlds for individual users, allowing everyone to continue reaping the benefits of Web3 without compromising their privacy, security, or anonymity.”

Astra’s platform, which also offers anti-money laundering services (AML), applies financial regulatory standards from more than 160 countries and more than 300 sanctions and watchlists without compromising user anonymity.

Astra Protocol has grabbed headlines with its stacked advisory board, which includes former Samsung Corporate President and Chief Strategy Officer Young Sohn, former acting White House Chief of Staff Mick Mulvaney, former Secretary for Homeland Security Kirstjen Nielsen and former European Commissioner for Trade Phil Hogan.