TRM Labs, a crypto compliance and risk management platform, has received a $60 million investment to help enterprises and institutions better identify cryptocurrency-based financial fraud.
“Crypto is moving faster than any sector in our lifetimes,” TRM Labs CEO Estaban Castaño said. “Organizations need a blockchain intelligence partner that can stay ahead of the evolving risk landscape – from ransomware attacks to DeFi exploits.
This round enables TRM to continue to offer the most reliable data and most innovative technology solutions in the market to its customers.”
Tiger Global led the Series B round, which included Visa, Amex Ventures, Citi Ventures, PayPal Ventures, Block (previously Square), DRW Venture Capital, Jump Capital, and Marshall Wace, among others.
TRM Labs currently has almost $80 million in total equity finance, including the cash it has raised to date.
TRM provides a unified platform that enables companies to effectively manage financial crime risk. TRM’s technology allows organizations to assess the risk profile of Virtual Asset Service Providers (Know-Your-VASPs) and other cryptocurrency businesses using the company’s technology.
TRM’s platform includes forensic capabilities for investigating the source and destination of cryptocurrency transactions, as well as transaction monitoring for screening cryptocurrency wallets and transactions for anti-money laundering and sanctions compliance.
TRM supports over 900,000 digital assets across 23 blockchains and includes cross-chain analytics to allow for frictionless transfer between Bitcoin, Ethereum, and other blockchains.
This enables businesses to create detailed visualizations that allow for more accurate and full tracking of cash flow. TRM’s platform allows users to create their own risk rating criteria by choosing from more than 80 distinct risk categories.
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