AllianceBlock Brings Compliant Funding to the Arbitrum Ecosystem With Fundrs and NexeraID Integration
AllianceBlock is best known for developing innovative solutions that solve real challenges in the DeFi sector. AllianceBlock’s technology is now deployed and utilized in some of the most vibrant ecosystems — Ethereum, Polygon, and Avalanche.
Today, AllianceBlock is excited to announce the expansion of its integration with the dynamic Arbitrum ecosystem. AllianceBlock aims to provide the Arbitrum network access to its innovative solutions while inviting hundreds of builders from one of the industry’s most popular ecosystems.
The layer-2 blockchain scaling solution building on top of the Ethereum ecosystem has experienced a rapid rise in popularity — and for a good reason. The network can handle over 40,000 transactions per second (TPS), significantly improving Ethereum’s capacity of fewer than 40 TPS. Its mission? To tackle Ethereum scaling problems by rolling tens of thousands of transactions into a batch, reducing congestion on the giant layer-1 blockchain. As the activity on this layer 2 grows, the project continues gaining momentum, supported by hundreds of thousands of community members and a rich ecosystem of hundreds of dApps.
The integration will kickstart with two first-of-their-kind deployments on Arbitrum that build on the existing support with AllianceBlock Bridge. First is deploying our peer-to-peer capital raising protocol, Fundrs, and its first-ever QRC20-based standard token project listing, Galileo Protocol. Second is deploying NexeraID, our self-sovereign identity issuance and verification platform, on Arbitrum, which provides builders with a compliance solution, paving the way for the adoption of institutional partners.
By providing innovative solutions in this exciting ecosystem, AllianceBlock continues to enable access to efficient, safer, and compliant ways to innovate in DeFi. The integration of Fundrs and NexeraID provides a solid use case of how solutions provided by AllianceBlock can accelerate Arbitrum’s development and make its builders compliant. After the first Fundrs’ Seeker listing on Arbitrum, Galileo Protocol, the community can expect to see more Arbitrum-based projects and institutions start using digital identities, leading to further adoption of AllianceBlock solutions.
Trustless Compliance: Bringing Adoption to Arbitrum Builders With NexeraID
In the blockchain industry, institutional and mainstream adoption is crucial for the success of any project. By integrating AllianceBlock’s NexeraID and its Compliance module, startups building on Arbitrum can comply with regulatory requirements, providing access to institutional and mainstream investors.
NexeraID is a self-sovereign identity issuance and verification platform that empowers companies to seamlessly onboard users to web3 using self-custodial or custodial wallets. It also streamlines complex compliance workflows while safeguarding users’ identities and assets. NexeraID comprises multiple modules to simplify its adoption and give its users multiple solutions to implement, depending on their use case. The NexeraID Wallet module is a flexible smart wallet solution that enables users to store, manage, recover, and handle digital assets and verifiable credentials. The NexeraID Identity module is a self-sovereign identity issuing and verifying infrastructure that allows users to generate verifiable credentials connected to their on-chain and off-chain identities. Lastly, the NexeraID Compliance module is an embedded solution that streamlines the user experience, removes regulatory barriers, and ensures compliance with necessary frameworks and requirements.
How can NexeraID help builders on Arbitrum develop the next wave of innovation? First, using NexeraID simplifies the onboarding process for new clients and consumers, making it easier for businesses to drive adoption from mainstream users and institutional clients. Moreover, the Compliance Module of NexeraID will provide a secure and reliable way for businesses to maintain compliance with various regulations, coupled with seamless integration into each dApp’s workflow and unique use case.
At this year’s Avalanche Summit in Barcelona, the AllianceBlock team showcased a demo of the NexeraID Compliance module’s seamless user verification process for a sample institutional dApp. The demo illustrates how Arbitrum-based builders can use NexeraID to create simple, secure, and compliant applications in web3. You can watch the walkthrough below:
NexeraID trustless KYC & Compliance — Welcome to compliant DeFi!
NexeraID addresses one of the biggest hurdles in traditional institutions’ adoption of DeFi, which conventionally require an approachable, compliant and seamless method of identity verification. According to a report by MarketsandMarkets, the digital identity market size is expected to grow from $13.7 billion in 2020 to a staggering $30.5 billion by 2025. The report’s findings are clear — digital identity solutions are increasing in demand and will be used by institutions in the future. AllianceBlock anticipates this demand to increase even further, given the rollout of strict regional crypto regulations like the European Union’s Markets in Crypto Assets (MiCA). With NexeraID’s Compliance module, ARB builders can seamlessly adapt to the new EU MiCA crypto regulations, ensuring a safe, compliant, and future-proof crypto-assets ecosystem.
AllianceBlock will continue to integrate NexeraID across its suite of tools, starting with Fundrs. TIDV will become a part of NexeraID, ensuring a smoother Know-Your-Customer (KYC) experience on Fundrs and beyond. This ease of use will help to increase the adoption of Arbitrum projects among mainstream investors, thereby driving the growth and adoption of the entire ecosystem.
Fundrs and NexeraID Will Accelerate Compliant Capital-Raising for Arbitrum Builders, Starting With Galileo Protocol
One of the leading solutions AllianceBlock is bringing to the table is its peer-to-peer capital-raising protocol for blockchain startups and crypto investors, Fundrs. With support for private sales, presales, and milestone-based financing, Fundrs provides new ways for blockchain startups and projects to raise capital. The protocol is now fully integrated and available for builders innovating on Arbitrum. Galileo Protocol is the first project to launch through Fundrs on Arbitrum. Galileo Protocol is a multichain protocol that tokenizes physical assets into NFTs (pNFTs), enabling more liquid and reliable transactions. You can find more details on this innovative protocol in our deep dive here.
Galileo Protocol will soon utilize NexeraID’s infrastructure to develop its dedicated wallet for managing digital identities. This new wallet will make it easier for users to participate in purchasing Galileo’s pNFT. The Protocol will also leverage the Nexera Protocol and the MetaNFT standard to make their pNFTs mutable, composable, and extensible. This will add more utility for the pNFTs, making them more valuable to users and helping to drive broader adoption of Galileo’s offering.
With this new promising listing, AllianceBlock is excited to showcase to the entire Arbitrum builder community how they can now use Fundrs and NexeraID to access new funding opportunities compliantly.
Given Arbitrum’s impressive performance, AllianceBlock anticipates this layer-2 to become one of the leading networks to use Fundrs and launch new projects. Users can bridge their NXRA and rALBT to Arbitrum using AllianceBlock Bridge to enjoy lower transaction fees and to prepare for upcoming listings.
Fundrs SDK and NexeraID Integration Will Take Arbitrum Innovation to New Heights
Integrating AllianceBlock’s innovative solutions with Arbitrum’s rich ecosystem marks an exciting development in the DeFi sector. The deployment of Fundrs and NexeraID on Arbitrum opens up new opportunities for compliant capital raising and identity verification while providing access to one of the most popular ecosystems in the sector.
The Galileo Protocol’s use of Fundrs and NexeraID is the perfect use case of how AllianceBlock’s tools can be leveraged to accelerate innovation on Arbitrum in a compliant way. With the need for digital identity solutions driven by the increasing use of user verification in crypto and traditional sectors, NexeraID and its defining features will make it easy for Arbitrum businesses to gain adoption by simplifying onboarding processes for new clients and consumers from the traditional world.
Integrating AllianceBlock’s innovative solutions into this exciting ecosystem aims to offer more efficient, safer, and compliant ways to build in some of crypto’s richest ecosystems. Every new integration ensures an increase in the adoption of AllianceBlock’s technology and utility for the NXRA token.
Soon, NexeraID and Fundrs SDK will be available to all Arbitrum builders, allowing them to build innovative, compliant web3 applications. This is especially important as more real-world assets are tokenized and traded on DeFi platforms, making regulatory compliance an even more crucial aspect of the space. With NexeraID and Fundrs SDK, developers can ensure that their applications meet the necessary compliance requirements while pushing the boundaries of what’s possible in the DeFi space. As more capital is attracted to the compliant DeFi wave, builders who stay on top of regulatory compliance will be empowered to make the biggest impact with this exciting technology.
If you are an Arbitrum-based builder who wants to get listed on Fundrs, or you’re interested in achieving 360 compliance, get in touch here. To secure priority to NexeraID and get exclusive access to its comprehensive documentation, join the waitlist here.
About AllianceBlock
AllianceBlock is an infrastructure provider for decentralized tokenized markets. It empowers businesses with liquidity provisioning and allows them to compliantly issue, manage, and trade tokenized, digital assets including real-world assets (RWAs).
The AllianceBlock ecosystem of partners, clients, and ventures consists of top stakeholders from the financial industry, as well as the decentralized finance (DeFi) sector. Their unique product suite complies with global regulations and seamlessly integrates with legacy systems.
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