Visa and Andreessen Horowitz are betting on the cryptocurrency with funding amount all set to get form the Facebook Libra Association member Anchorage’s Omni-metric blockchain security system. Instead of relying on the passwords that can be stolen, Anchorage requires cryptocurrency withdrawals to be approved by clients other employees. Then the company uses both of the AI reviews of biometrics and human along with more to validate transactions before they are being executed that offers a complete end to end insurance coverage.
The new age approach that can be used in cryptocurrency protection has attracted close to $40 million in Series B funding for Anchorage that is led by Blockchain Capital and even joined by Visa and Andreessen Horowitz. The new round of funding is all set to add Anchorage’s $17 million Series A that was led by the Andreessen led just six months ago, that has demonstrated extraordinary momentum for the security startup. Diogo Monica added that Anchorage Co-founder and President added that as a custodian our work is focused on building a financial channel that other companies actually depend on their operation and run smoothly when it comes to a financial transaction. In this regard, we have looked towards the Visa model.
Visa was Fintech even before the term existed and has always been on the edge when it comes to developing new financial infrastructure. Visa’s investment in the Anchorage will be assisting not only our company but for our industry as a complete validation for the entire ecosystems and recognition that crypto will be playing a key role for the business. Cold-storage, where assets are held in a computer that is not connected to the Internet, has become much popular with securing of the Bitcoin, Ether and other types of tokens.
