Artificial intelligence (AI)-driven cybersecurity firm AnChain.AI has announced an integration with Provenance Blockchain Foundation, a public, open source blockchain, with an aim to improve security for digital finance.

The integration is part of the collaboration between the parties.

AnChain.AI and Provenance Blockchain aim to boost the security and risk management strengths to help developers, enterprises, and financial establishments to create a safer and more robust environment for digital financial asset use cases.

Through the integration with Provenance Blockchain, AnChain.AI intends to offer advanced AI-driven Web3 risk management, security, and anti-money laundering (AML)/compliance solutions.

This is expected to deliver the latest technologies to the ecosystem to combat financial crime and assure a higher degree of protection and confidence for all members of the Provenance Blockchain community.

AnChain.AI CEO and co-founder Victor Fang said: “Web3 digital assets are the future of finance, but security and compliance are critical to wider adoption.

“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.”

The blockchain ecosystem intelligence (BEI) and compliance, investigation, and security operations (CISO) tools from AnChain.AI will support developers building on the Provenance Blockchain to prioritise security and user safety from the earliest stages of development.

Besides, the collaboration will enhance the security posture of organisations and enterprises leveraging the Provenance Blockchain for their core financial services offerings and experiences.

Provenance Blockchain developer ecosystem head Joshua Maddox said: “Compliance and monitoring of digital and blockchain activity is a fundamental component of managing a digital-native financial asset.

“A recognised 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.”