2021-03-12 16:17:42

Paretone Capital Partners with AnChain.AI to Reinforce Cryptocurrency Hedge Fund Trading AML Compliance | News

SAN FRANCISCO, March 12, 2021 /PRNewswire-PRWeb/ — Silicon Valley based blockchain intelligence provider AnChain.AI today announced its partnership with Paretone Capital, a premier OTC trading desk and hedge fund with over $2 billion in annual trading volume, in order to reinforce their cryptocurrency AML/KYC regulatory compliance and infrastructure, and bring greater security and transparency to the digital asset economy.

“After an extensive review, our team selected AnChain.AI from among a number of leading blockchain intelligence vendors,” said Paretone Capital Founder & CEO Vincent Wang of the partnership. “The AnChain.AI team has helped us enhance our AML and compliance programs, ensuring our blockchain assets and over $2B in annual OTC trading volume is secure, and giving us greater peace of mind. It was a pleasure to work with AnChain.AI’s team to create a more secure and transparent cryptocurrency world that everyone can safely enjoy.”

Following its recent meteoric rise, the cryptocurrency industry has seen a proportionate emergence of new regulatory challenges. In 2020, over $10.5 Billion in cryptocurrency was stolen by illicit actors, with $8 Billion more circulating in the black market, mixer, tumbler, DeFi, DEX, NFT and more.

Such rapid growth has spurred regulators to action, with government bodies like FinCEN and OFAC introducing new regulations in 2021, and cracking down on VASPs lacking adequate AML/CFT programs, even for transactions nearly a decade old. Just last month in February 2021, payment provider Bitpay settled over $500,000 in OFAC charges for illicit transactions on their platform from as far back as 2012, and faced a maximum fine of over $600 million.

AnChain.AI is enhancing the cryptocurrency AML and security infrastructure of industry leaders including FalconX and Amber Group, securing billions of dollars in transactions. AnChain.AI’s groundbreaking CISO forensics platform is simplifying AML/CFT regulatory compliance, equipping users with comprehensive, AI-powered ecosystem intelligence, one-click auto-trace money flow investigation, and fund origin tracing to ensure a fast, secure trading experience.

Said AnChain.AI CEO & Co-Founder Victor Fang, Ph.D., of the partnership. “The cryptocurrency finance space is experiencing unprecedented growth and creating a complicated compliance landscape. Thankfully, leading financial service vendors are taking preventive action, enhancing their regulatory compliance stances. We’re proud to be selected by leading firms like Paretone Capital, who take a proactive approach to Anti Money Laundering regulatory compliance and infrastructure security, ensuring a bright future for the trillion dollar digital asset economy.”

AnChain.AI is proud to partner with companies committed to building a more secure crypto future. We recommend all VASP vendors thoroughly evaluate the three pillars of blockchain security: infrastructure, code, and transactions. Talk to our experts about cryptocurrency AML and security today: https://www.anchain.ai/

About Paretone Capital

Paretone Capital is a quantitative proprietary trading firm since 2015. Our management team includes investment and financial veterans as well as experienced analysts and seasoned trading professionals. With over $2B in annual trading volume in crypto currency, Paretone Capital is one of the largest OTC trading desks in Asia, with a strong corollary presence in the San Francisco Bay Area, Beijing, Shanghai and Shenzhen. For more information, please visit http://www.Paretonecapital.com

About AnChain.AI

AnChain.AI is an AI-powered intelligence enhancing blockchain security, risk, and compliance strategies founded in 2018 by cybersecurity and enterprise software veterans from FireEye, Mandiant, and McAfee. Backed by Silicon Valley and Wall Street VCs Amino and SIG and selected in the Berkeley Blockchain Xcelerator.

AnChain.AI is trusted by leading crypto exchanges, blockchains, enterprise blockchains, DApps, and DeFi companies. Featured in CBS News, MIT Tech Review, Coindesk, and DEFCON. Trusted by 100+ customers from over 10+ countries, our risk API engine secures $10 million of daily crypto transactions. https://www.anchain.ai/

Media Contact

Steven Yang, AnChain.AI, +1 4083094345, steven.yang@anchain.ai




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