AnChain.AI, a blockchain security company, has announced it has raised $10 million in a Series A funding round led by SIG Asia Investments. Fin VC, Nima Capital, Hard Yaka and others also participated in the round. The company also said in a press release it has been awarded "the multi-year SEC contract" to track activity on smart contracts.
"This year's cryptocurrency boom is merely the preamble to a new wave of necessary regulatory effort, and a complete revamp of the industry's approach to compliance, as VASPs, financial institutions, and regulatory bodies seek solutions to a new era of virtual asset risk," said AnChain.AI CEO, Victor Fang.
The terms of the funding round remain undisclosed. The funding comes just few days after the US Securities and Exchange Commission signed a partnership agreement with AnChain.AI to supervise the activity on the decentralized finance (DeFi) market. A spokesperson for AnChain.AI said the contract's initial price was set at the $125,000 mark, with an option to extend it for five years for a total of $625,000.
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