AnChain.AI Receives Grant from XRPL Grants to Provide Proactive and Preventive Monitoring for the XRP Ledger

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AnChain.AI was amongst two dozen recipients from 10 countries awarded an XRPL Grant for developers creating innovative solutions on the XRPL.

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Provider: 
PR NewswirePR Newswire
Retrieved on: 
Wednesday, October 20, 2021
Information
Tags: 
XRP, CBS News, Policy, Investor, Risk, DEFCON, Technology, AML, Ripple (payment protocol), Non-fungible token, Ecosystem, Growth, News, Security (finance), SIG, Silicon, SAN, Internet, U.S. Securities and Exchange Commission, NFT, Blockchain, CoinDesk, Wall Street, AI, Forbes, Compliance, COO, SEC, Crime, Solution, Integration, CISO, Cryptocurrency, Medical device
Geotags: 
California, SAN JOSÉ, SILICON VALLEY, BERKELEY
Organisation: 
ANCHAIN.AI, RIPPLEX
Website: 
http://www.anchain.ai
Summary
Key Points: 
  • AnChain.AI was amongst two dozen recipients from 10 countries awarded an XRPL Grant for developers creating innovative solutions on the XRPL.
  • "While the expansion of NFTs may provide a new revenue stream for many, it also creates a potential new way for criminals to launder money.
  • "Through this project, we are helping take the proactive steps needed to fight against money laundering before it becomes a problem in the NFT space."
  • RippleX champions the builders of tomorrow by providing the infrastructure, tools, services, programs and support for creation on the XRP Ledger ( XRPL ).


AnChain.AI Receives Grant from XRPL Grants to Provide Proactive and Preventive Monitoring for the XRP Ledger

SAN FRANCISCO, Oct. 20, 2021 /PRNewswire/ -- AnChain.AI, a leading blockchain security company specializing in AI-powered analytics, today announced its selection by RippleX to help further fortify the XRP Ledger (XRPL) against illicit activities. AnChain.AI was amongst two dozen recipients from 10 countries awarded an XRPL Grant for developers creating innovative solutions on the XRPL.

AnChain.AI is working to build the world's first preventive blockchain security and compliance solution. Its CISO™ (Compliance Investigation Security Operation) Integration provides unprecedented insight into blockchain transaction activity and cryptocurrency flow, helping to secure the XRPL as it continues to expand and support new innovations like NFTs.

"While the expansion of NFTs may provide a new revenue stream for many, it also creates a potential new way for criminals to launder money. Responding to this need, AnChain.AI has developed the tools needed that can help track down illicit transactions before they occur," said Ben Wu, COO of AnChain.AI. "Through this project, we are helping take the proactive steps needed to fight against money laundering before it becomes a problem in the NFT space."

This award is the latest step in AnChain.AI's mission to make all digital assets and NFTs secure, one blockchain at a time, marking a shared commitment to bring transparency and legitimacy to blockchain technology and its numerous innovations. With financial support from the XRPL Grants program, AnChain.AI will help create an ecosystem that allows all market participants to safely interact with the next generation of global technological, financial, and media infrastructure.

"Blockchain security is a critical and timely issue. AnChain.AI's impressive track record paves the way for its CISO™ integration to enable institutions to follow transactions and efficiently analyze data on the XRP Ledger," said Elliot Lee, Program Lead for XRPL Grants.

This funding comes on the heels of rapid growth and success for AnChain.AI. They were recently awarded a multi-year SEC contract to provide a platform for deep analysis and tracing on smart contracts to support the SEC's ongoing efforts to monitor risk, improve compliance and inform commission policy on digital assets and cryptocurrencies.

About AnChain.AI

AnChain.AI (www.anchain.ai) is an AI-powered cybersecurity company enhancing blockchain security, risk, and compliance strategies.

AnChain.AI, San Jose California, was founded in 2018 by cybersecurity and enterprise software veterans. Investors include both Silicon Valley and Wall Street VC's: Amino and SIG; and selected in the Berkeley Blockchain Xcelerator.

The company is trusted by 100+ customers from 10+ countries in these sectors: VASPs, financial institutions and governments, including the SEC (Securities and Exchange Commission). Featured by Forbes, CBS News, MIT Tech Review, CoinDesk and DEFCON. AnChain.AI's AML engine screens over $1 billion in daily crypto transactions.

About RippleX

RippleX champions the builders of tomorrow by providing the infrastructure, tools, services, programs and support for creation on the XRP Ledger (XRPL). With this support, an open community of developers can advance the solutions and innovation needed to allow businesses, consumers, institutions and governments to fuel the engine of a new digital economy. RippleX is built on the principle that the success of blockchain in realizing the Internet of Value hinges on how easily new technology works with how the world operates today. 

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SOURCE AnChain.AI

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