Astra Protocol has announced the launch of a compliance hub in The Sandbox virtual world. The compliance hub targets metaverse users by providing a decentralised compliance layer that will fulfil processes such as Know-Your-Customer (KYC) and Anti-Money Laundering (AML).

The metaverse is currently a popular topic in the cryptocurrency sector. Various firms have been rushing to establish a virtual presence to attract users that favour digital experiences.

Astra Protocol is a platform that seeks to offer legal solutions to decentralised finance (DeFi) smart contracts through the expertise of trusted legal firms. It offers this through a fully decentralised compliance layer that can offer solutions to real-world compliance issues.

Through this compliance hub, Astra seeks to make the metaverse a safe platform for all the participants. Those on the metaverse can go to this compliance hub, link to its Decentralised Legal Network (DLN), and be accredited. These users will later receive a non-transferrable non-fungible token (NFT) that will offer access to special events.

The DLN feature created by Astra comprises the leading legal and audit firms globally. The network is available in 195 countries, ensuring that globally, crypto regulations can be achieved.

Once a user has been verified, they can engage in special occasions on the metaverse without worrying about compromising their identities. Therefore, this solution will offer protection and preserve the identity of users.

The Sandbox (SAND/USD) is one of the popular virtual worlds in the crypto space. It has already attracted the attention of notable brands such as Adidas that have hinted at building their virtual worlds on the platform.

Astra notes that it selected The Sandbox for its desirable and exciting locations. Competition for Sandbox locations has been high as only 166,464 individual plots of land are available.

The founder of Astra Protocol, Jez Ali, commented on this development, saying,

We are delighted to announce the Astra Protocol’s entry into the metaverse with our first plot in The Sandbox. The future of metaverse development will be a long-lasting and innovative mission which has already shown incredible growth and is an exciting area of Web3.

The post Astra Protocol unveils a compliance hub on The Sandbox virtual world appeared first on Invezz.

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