A Facebook Libra association member, Anchorage, is getting funding for its omnimetric blockchain security system. The funding comes from Visa and Andreesen Horowitz. The crypto vault requires cryptocurrency withdrawals to be approved by the client’s other employees instead of using passwords.

Anchorage, in fact, uses AI and human review of biometrics and some other tools to validate transactions. It also offers end-to-end insurance coverage to the users. The innovative approach has fetched the company $40 million in funding.

The president of Anchorage, Diogo Monica, in an interview with Tech Crunch says,

“As a custodian, our work is focused on building financial plumbing that other companies depend on for their operations to run smoothly. In this regard, we have always looked at Visa as a model. Visa was ‘fintech’ before the term existed, and has always been on the vanguard of financial infrastructure.”

“Visa’s investment in Anchorage is helpful not only to our company but to our industry, as a validation of the entire ecosystem and recognition that crypto will play a key role in the future of global finance,” he added.

Anchorage intends to allow clients to participate in governance on votes on their currency. Most other cold-storage hold assets in computers not connected to the internet. They are popular for securing tokens and bitcoins. However, the crypto vault, Anchorage, wants to permit their clients to capture their returns from inflation and staking.

Visa, Anchorage and Andreessen Horowitz will then have the responsibility of securing the stablecoin. They are three of the founding members of the Libra Association set up to govern the new Facebook cryptocurrency.