Astra’s Assurance Layer Makes DeFi Appealing to Institutions
The world of decentralized finance attracts a lot of attention from hopefuls and risk-takers. Despite its promising future, the ecosystem cannot resolve disputes transparently. Your funds are probably gone forever if you accidentally sent them to the wrong wallet address. Therefore, dispute resolution and legal protection will prove essential to making DeFi appealing to institutional players. DeFi is too risky in its current form To most people, decentralized finance is an industry segment that lets one gain wealth passively. With the right crypto assets, one can lend, borrow, staking,....
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Institutional participation is key to unlocking the future growth of DeFi. But without a proven dispute resolution mechanism, DeFi is too risky for institutions. Astra eliminates that risk. “What got you here won’t get you there.” When author Marshall Goldsmith wrote it, he was referring to how successful people can achieve even more success and […]
This week, the stablecoin issuer Tether Holdings Limited revealed an update to its assurance and attestation process and detailed that the company has been working with accounting firm BDO Italia. The accounting firm will conduct monthly tether assurance reports based on the stablecoin issuer’s reserves. The following day, Tether published its quarterly assurance opinion completed by BDO and it notes that the company has seen a 58% decrease in commercial paper reserves. Tether Hires BDO Italia, Company Publishes Quarterly Consolidated Reserves Report Tether Holdings Limited, the....
Is Ethereum the blockchain of choice for financial institutions in Southeast Asia, or will companies seek alternatives due to limitations? Blockchain innovation is surging throughout Southeast Asia, as the region is home to a number of fintech firms and global crypto companies. In particular, Singapore has become one of the world’s most crypto-friendly countries. This was recently highlighted in a report conducted by crypto exchange Gemini, which found that 67% of 4,348 respondents currently own crypto. The report further noted that Ether (ETH) is the most popular cryptocurrency in the....
British exchange Netagio (which deals with bitcoin, gold, and sterling trading) reported this morning that they have attained assurance for their bitcoin storage/holdings to an international standard (ISAE 3000). An independent review was conducted by BDO LLP, a professional services firm operating internationally, and it was found that Netagio has their stuff together, to be frank. The ISAE 3000 standard (where ISAE stands for International Standard on Assurance Engagements) was developed by the International Auditing and Assurance Standards Board (IAASB), and the idea is to ensure....
Tether Limited has released an assurance report reviewed by Moore Cayman, an auditor of investment funds and digital assets. The report provides a breakdown of the company’s assets and reserves which Moore Cayman claims are around $62.7 billion as of June 30. Tether Publishes Assurance Report On August 9, 2021, Tether’s chief technology officer tweeted that the company had published the firm’s “latest attestation” and a detailed “breakdown of reserves.” “Guess what? Tether is fully backed,” Tether’s CTO Paolo Ardoino said.....