SAN FRANCISCO, Aug. 1, 2023 /PRNewswire/ — AnChain.AI, the leader in Web3 digital asset security, investigations, and AML compliance today announced its strategic collaboration with the Provenance Blockchain Foundation. Part of the collaboration is an integration with Provenance Blockchain, which aims to enhance the security and risk management capabilities, supporting developers, enterprises, and financial institutions building a more secure and robust environment for digital financial asset use cases.
As financial institutions around the world enter the Web3 space, the demand for bank-grade security has never been more urgent. By integrating with Provenance Blockchain, AnChain.AI aims to deliver advanced AI-powered Web3 risk management, security, and anti-money laundering (AML)/compliance solutions, providing the ecosystem with the latest technologies to fight financial crime, and ensuring a heightened level of trust and protection for all participants in the Provenance Blockchain community.
“Web3 digital assets are the future of finance, but security and compliance are critical to wider adoption,” said Victor Fang, CEO & Co-founder of AnChain.AI. “Our partnership with the Provenance Blockchain Foundation aligns perfectly with our mission to provide the industry’s leading Web3 security solutions. Together, we will enable a safer and more resilient Web3 financial ecosystem.”
AnChain.AI’s groundbreaking Blockchain Ecosystem Intelligence (BEI) and Compliance, Investigation, Security Operations (CISO) tools, will empower developers building on the Provenance Blockchain to prioritize security and customer safety from the earliest stages of development. This integration will bolster the security posture of institutions and enterprises using the Provenance Blockchain for their core financial services products and experiences.
“We’re excited to welcome AnChain.AI to the Provenance Blockchain ecosystem. Compliance and monitoring of digital and blockchain activity is a fundamental component of managing a digital-native financial asset,” said Joshua Maddox, Head of Developer Ecosystem for the Provenance Blockchain Foundation. “A recognized and leading solution, AnChain.AI offers bank-grade advanced risk management, security and compliance tools important to regulated financial institutions operating on blockchain, and now those tools are available to financial institutions and fintechs operating and managing assets on Provenance Blockchain.”
Provenance Blockchain is a leading blockchain, purpose-built to support financial service use cases. Built in the Cosmos ecosystem, the open-source blockchain has over $8 billion in real-world asset locked value on-chain, has supported over $12 billion in transactions, and is leveraged by more than 60 leading financial institutions across banking and payments, private equity, capital markets, lending, and asset management.
AnChain.AI’s proven expertise in AI-powered digital asset risk assessment and early detection of suspicious activity has won the trust of leading government agencies, financial institutions, and enterprises worldwide, including the world’s most influential regulators. This integration with the Provenance Blockchain marks another milestone in AnChain.AI’s mission to create a more secure and sustainable Web3 ecosystem.
The strategic collaboration between AnChain.AI and the Provenance Blockchain Foundation represents a significant step in driving community awareness about the importance of robust security measures in the rapidly evolving Web3 landscape. As regulatory scrutiny in the digital asset space intensifies, this collaboration will set a new standard for secure development within the Provenance Blockchain community, fostering innovation and trust in the financial asset use cases enabled by the blockchain.
About AnChain.AI:
AnChain.AI (HQ in San Francisco) is an award-winning AI-powered cybersecurity company enhancing Web3 security, risk, and compliance strategies. AnChain.AI was founded in 2018 by cybersecurity and enterprise cloud veterans. Backed by both Silicon Valley and Wall Street VCs, and selected in the Berkeley Blockchain Xcelerator, we are trusted by 100+ customers from over 10+ countries in sectors: VASPs, financial institutions, and government, including the U.S. SEC (Securities and Exchange Commission). AnChain.AI Web3 Security Suite protects over $50 billion Web3 crypto assets. RSA Innovation Sandbox Finalist 2023. CNBC Top Startups Award 2022.
About Provenance Blockchain:
Founded in 2018, Provenance Blockchain is a leading decentralized blockchain with over $8B in real-world financial asset locked value (TVL). Purpose-built for financial services, Provenance Blockchain enables regulated financial service firms of all sizes to seamlessly and securely deploy and manage the full lifecycle of digitally-native financial assets at scale on blockchain technology, delivering material business and customer value. The native utility token, HASH, is used to pay transaction fees and enable governance. Please visit Provenance Blockchain at Provenance.io and follow us on Twitter @provenancefdn and on LinkedIn.
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SOURCE AnChain.AI
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