SAN FRANCISCO, June 2, 2022 /PRNewswire/ -- AnChain.AI, the engine empowering Web 3 security, is announcing an integration with the Harmony blockchain, enabling strong compliance and scam monitoring.  This integration allows Harmony ecosystem participants the ability to empower compliant transactions in accordance with Virtual Asset Service Provider recommendations per the Financial Action Task Force (FATF).

Harmony is  currently onboarding a 1-to-1 fully backed by fiat stablecoin issued via Stably and Prime Trust, a regulated trust company partner and SEC-qualified custodian, complementing its robust offering of Decentralized Exchanges, Gaming and NFT marketplaces.

"To help boost confidence in using the Harmony ecosystem, we are taking this proactive step to discourage perpetrators from harming Harmony's community while moving towards becoming a compliant platform," said Jack Chan, leading Engineering and Partnerships at Harmony.

AnChain's industry-leading capabilities have established its AI-driven platform as a foundational tool for the blockchain forensics and compliance capabilities of major financial institutions such as the US SEC (Securities and Exchange Commission), digital asset exchanges, and other VASPs and leading layer 1 blockchains.

"Working with leading blockchain protocols like Harmony enables Web3 communities with our suite of essential web3 security technologies and improvements to their regulatory compliance posture," said Victor Fang, CEO & Co-founder of AnChain.AI.

The AnChain toolset will provide applications using the Harmony blockchain with the ability to quickly monitor wallet addresses for illegal or suspicious transactions. Ecosystem participants can quickly report their findings to be integrated into the tools in order to create more robust data offerings, allowing leaders at Harmony to facilitate important analysis of malicious activity in the interest of growing and protecting developers and business clients.

With AnChain's powerful AI-driven security software integrated with Harmony's uniform scaling architecture, Harmony establishes itself as a leader in the push for adoption of blockchain technology by developers and projects seeking legitimacy in the face of growing regulatory scrutiny within the blockchain industry, while aiming to reduce threats within Harmony's ecosystem.

AnChain.AI is an AI-powered cybersecurity company enhancing blockchain security, risk, and compliance strategies. AnChain.AI was founded in 2018 by cybersecurity and enterprise software veterans from FireEye and Mandiant. Backed by both Silicon Valley and Wall Street VCs, and selected in the Berkeley Blockchain Xcelerator, the company is trusted by 100+ customers from over 10+ countries in these sectors: VASPs, financial institutions, and government, including the U.S. SEC (Securities and Exchange Commission). Featured by CBS News, MIT Tech Review, Coindesk, and DEFCON, AnChain.AI's AML engine screens over $1 billion in daily crypto transactions.

Harmony is an open and fast blockchain. Harmony mainnet runs Ethereum applications with 2-second transaction finality and 100 times lower fees. Our secure bridges offer cross-chain transfers with Ethereum, Binance and 3 other chains.

Build on Harmony, bridge to all chains. An open platform for your assets, collectibles, identity and governance.

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SOURCE AnChain.AI