SAN FRANCISCO, Aug. 23, 2022 /PRNewswire/ -- AnChain.AI, the leading blockchain and Web3 solutions provider, has been awarded a second Developer Grant of $150,000 by XRPL Grants. The XRPL Grants Program sponsored by Ripple provides funding to support software development projects that leverage the open-source XRP Ledger (XRPL).With this grant, AnChain.AI will continue to deliver industry leading blockchain intelligence products on the XRPL, further enhancing compliance, security, and AML by delivering AnChain.AI's blockchain intelligence API, Blockchain Ecosystem Intelligence (BEI), at no cost to all XRPL developers.

This grant further expands upon AnChain.AI's initial award, through which the AnChain team integrated XRPL transaction data into its BEI blockchain intelligence platform, bringing unprecedented transaction monitoring and KYW (Know Your Wallet) capabilities to the entire XRPL developer base. Providing these risk management tools to the entire ecosystem will support the continued growth of the XRPL as its passionate developers drive innovation in DeFi, DAOs, NFTs, and beyond.

"AnChain's blockchain analytic capabilities have been trusted by the world's leading financial institutions, regulators, and virtual asset service providers (VASPs), including government service providers," said AnChain Director of Product, Francesco Piccoli. "We've been delivering unparalleled intelligence and reinforcing ongoing compliance and customer due diligence efforts worldwide."

All XRPL developers will be provided a free version of AnChain's artificial intelligence and machine learning risk engine via an open-source API. The API will enable each project to incorporate development best practices for risk management, anti-fraud, and AML (anti-money laundering) from Day 1. In addition, AnChain will provide free suspicious activity reporting tools for the community, allowing members to report scams, hacks, and other compromises through a dedicated web portal, immediately notifying the entire ecosystem through the API.

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 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). As featured by CBS News, MIT Tech Review, Coindesk, and DEFCON, AnChain.AI's AML engine screens over $1 billion daily crypto transactions.

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SOURCE AnChain.AI