The integration is aimed at strengthening compliance and preventing fraud, the companies said in a news release. It comes on the heels of multiple acquisitions by Elrond to expand its portfolio with an e-money license, Virtual Asset Service Provider (VASP) license and the ability to issue debit cards.
Beniamin Minco, Elrond Network’s CEO, says the collaboration between Elrond and AnChain is an important step in integrating blockchain technology into the global financial system.
“International financial institutions and national economies can operate and collaborate using our scalable architecture,” Mincu said in the news release. “It is therefore essential that they have access to the highest levels of compliance and fraud prevention. AnChain.AI is a great enabler in this regard.”
AnChain CEO Victor Fang praised the move as especially important as large organizations and governments around the world continue their investment in blockchain technology.
“We are at an inflection point where enterprises and governments are rapidly realizing that blockchain technology has become indispensable for efficiency increase and sustainable growth,” Fang said in the release. “The AnChain.AI next-gen Web3 analytics suite will complement Elrond’s promising technology and give it an important edge that will enable it to meet the influx of new institutional demand.”