Elrond

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The developer of internet-scale blockchain infrastructure for Web3 payments –  Elrond Network – announced integrating with blockchain analytics platform Anchain AI to enhance compliance and prevent fraud. Elrond, a proof-of-stake protocol building infrastructure for blockchain-based digital payments, can process over 10,000 transactions per second (TPS), with 5-second latency and a meager cost. 

Elrond’s latest move of tapping with AI-driven cybersecurity firm Anchain has confirmed its attempts to operate in compliance with regulatory requirements. Elrond Network CEO Beniamin Mincu considers the collaboration a meaningful step into the global financial system, saying:

“International financial institutions and national economies can operate and collaborate using our scalable architecture. It is therefore essential that they have access to the highest levels of compliance and fraud prevention. Anchain AI is a great enabler in this regard.”

According to a release shared with CryptoPotato, through consecutive acquisitions, Elrond has expanded its portfolio to include an e-money license – a Virtual Asset Service Provider (VASP) license.
In addition, the network plans to issue debit cards available to residents of the European Economic Area. As the firm steps into the payment business, compliance with regulatory bodies has become increasingly crucial to its prospect.
In March, Elrond acquired the payments firm Twispay after receiving approvals from the Romanian Central Bank, which allowed the project to operate within the EU. It also highlighted plans to issue stablecoins in the region.
The firm, dedicated to revamping the utility e-money and integrating blockchain technology, sees Anchain’s experience in cybersecurity, compliance strategies, and monitoring security risk as a key to meeting institutional demand.
Anchain has extensive partnerships with major financial institutions such as the US SEC and governments for services in compliance and forensics. Elrond aims to leverage the company’s strength in such a field to ensure “secure and compliant operations.”
The release stated that Anchain will deploy Web 3 analytics on Elrond, helping organizations “avoid interactions with addresses flagged for illicit activities, prevent fraud attempts and help with the tracking and recovery of misappropriated digital assets.”



The integration heightens the strategic implications of Elrond positioning itself as a blockchain-based digital payments ecosystem.

cryptopotato.com

Elrond Partners With Anchain to Strengthen Compliance and Fraud Prevention

The investment fund focused on growing the Elrond network – “Skynet EGLD Capital” – raised more than $40 million to further accelerate the development of the ecosystem. Financial backers were leading industry companies, including Binance Institutional, Huobi Global, Morningstar Ventures, Spark Digital Capital, and more.
Top Companies Flocking to Invest in Elrond Network
A document shared with CryptoPotato revealed that “Skynet EGLD Capital” secured over $40 million in a recent fundraiser, intending to employ the proceeds to boost the growth of the Elrond Network ecosystem.
The investment was led by top venture capital firms such as Spark Digital Capital, Woodstock, Morningstar Ventures, and Verko. Leading cryptocurrency companies like Binance Institutional, KuCoin, Huobi Group, and Bitmart also joined the funding round.
The $40+ million funds were raised in less than 14 days. Some of the proceeds have already been deployed in different Elrond projects such as Itheum and Maiar Exchange products.
Jordy Fiene – Founding Partner at “Skynet ELGD Capital” – said his entity had been a “strong supporter” of Elrond and its technology.
“The network is rapidly maturing, and new waves of builders are joining the ecosystem at an unprecedented pace. This is the perfect time to double down on our commitment and support Elrond’s journey,” the executive added.
Beniamin Mincu – Elrond Network Co-Founder and CEO – opined that institutions are currently “racing” to become part of the Web3 ecosystem. He raised hopes that “Skynet EGLD Capital” will provide the “shortest path to sustainable development and new markets for the most ambitious innovators building with Elrond blockchain technology.”
Elrond’s Recent Expansion
Last month, the blockchain platform acquired the Romanian payments company – Twispay after receiving a green light from the National Bank of Romania.
By doing so, Elrond Network intends to issue stablecoins, crypto-enabled debit cards, and non-fungible tokens (NFTs) in the European Union (EU). Mincu described the acquisition as a stepping stone for his organization:
“This landmark decision from the Romanian Central Bank opens the door for EU citizens, and soon for everyone everywhere, to significantly benefit from value flowing with near-instant settlement times, at 100x fewer costs, with full transparency, and higher reliability.”
In addition, the Elrond Network received approval to provide payment solutions under the second Payment Services Directive (PSD2).


“Skynet EGLD Capital” secured a $40+ million investment from numerous organizations like Spark Digital Capital, Morningstar Ventures, and Binance Institutional.

Skynet EGLD Capital Fund Raises $40 Million to Invest in the Elrond Ecosystem

Elrond (EGLD) ATH, Price, Market Cap, News, Info

USDD

Elrond price	$91.24
Low - High 24H	$90.59 - $92.61
Market cap	$2.04B
Volume 24H	$23.62M
All time high	$545.64 -83.26% November 23rd 2021
All time low	$6.51 1304.08% October 7th 2020
Genesis date	N/A

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