Bridge Mutual and AllianceBlock team up to provide compliant coverage to DeFi

By Pavithra R

Bridge Mutual, a decentralized, peer-to-peer discretionary coverage platform for digital assets has announced partnering with AllianceBlock, building the world’s first globally compliant decentralized capital market.

Under the partnership, the companies will provide traditional investors with a compliant bridge to DeFi protected by decentralized coverage.

“Partnering up with quality projects like AllianceBlock that already have meaningful real-world collaborations, including the London Stock Exchange, is one of the primary ways we’ll accomplish making crypto mainstream. We’re excited to change the world with AllianceBlock by opening up a direct channel for consumers in the AllianceBlock capital market to provide and purchase discretionary coverage through either of our platforms,” said Mike Miglio, CEO of Bridge Mutual.

AllianceBlock will integrate Bridge Mutual into its P2P lending platform, enabling Bridge Mutual to provide coverage to lenders and investors. Bridge Mutual will leverage AllianceBlock’s multi-pair liquidity mining platform to offer BMI token holders instant liquidity via staking, with high APY rewards for a range of pairs. Additionally, Bridge Mutual will work to monetize its platform through the AllianceBlock Data Tunnel.

“Discretionary coverage is a very important part of our ecosystem, so we are excited to partner with Bridge Mutual and leverage each other’s technologies. We look forward to building an ecosystem where all participants have access to the best products while mitigating the ever-present risk of smart contract failure, hacks, and the resultant loss of collateral value,” said Rachid Ajaja, CEO of AllianceBlock.

Founded in 2020, Bridge is a decentralized, discretionary insurance application. It is a cross-chain, permissionless and non-custodial risk management platform providing coverage for stablecoins, exchanges and smart contracts. The platform does not require any form of identification from its users.