AllianceBlock is a decentralized protocol built to connect traditional finance (TradFi) with decentralized finance (DeFi). The company says its protocol “automates the process of turning any digital asset, or crypto product, into bankable security with an internationally recognized Individual Securities Identification Number (ISIN)”. The platform is designed as a blockchain-agnostic layer 2 solution, with Ethereum used as the mainnet.

Based in the Netherlands, the project was launched in 2018 by Rachid Ajaja (CEO), Matthijs de Vries (currently serving as CTO), and Amber Ghaddar. The initiative was supported during its early growth by major European startup accelerators, Level39 (L39) and Station F, along with the Zurich Kickstart Innovation Program.

The goal is to enable the first globally compliant decentralized capital market. It is intended to link decentralized finance with traditional finance, while automating or simplifying how any digital or crypto asset becomes something recognized by traditional banks. The approach also targets pain points in both ecosystems to make collaboration easier. 

After the BonqDAO exploit involving ALBT tokens, AllianceBlock released a statement detailing what occurred, shared a technical report, published an overview of the snapshot and its equitable token distribution plan for the new AllianceBlock token, and made the new token’s audit report public. Acting in the community’s best interest, AllianceBlock decided to introduce a new token to replace the legacy ALBT token-retaining its utility while using the moment to lay the groundwork for the next stage of AllianceBlock. As a result, the AllianceBlock (ALBT) token is fully replaced by the AllianceBlock Nexera Token (NXRA). The old ALBT token is fully deprecated and has no further utility, while NXRA takes over all its utility and characteristics.