American Express’s Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square Inc.) and Paypal Ventures are investors in the latest round of crypto transaction monitoring and forensic platform TRM.
American Express, Visa, Citi, PayPal invest in TRM platform
The crypto transaction monitoring and forensics platform TRM announced on Tuesday that major financial institutions have invested in its Series B financing.
The company has raised $60 billion from leading financial institutions, including Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square Inc.) and Paypal Ventures from American Express.
This round of financing was led by Tiger Global. It also includes investments from 50 of the world’s leading operators, including Coinbase President and Chief Operating Officer Emilie Choi.
Esteban Castaño, co-founder and CEO of TRM, commented:
Cryptocurrency is developing faster than any department in our lives. Organizations need a blockchain intelligence partner who can maintain a leading position in the ever-changing risk environment-from ransomware attacks to Defi [decentralized finance] attack.
TRM explained in detail: “In order to support our mission of building a safer financial system for billions of people, we have developed the first blockchain intelligence platform that combines cross-chain data and threat intelligence, advanced analysis, and intuitive visualization. Combined to help organizations detect crypto fraud and financial crimes.”
The company stated that crypto businesses such as Circle, FTX US, and Moonpay “use TRM transaction monitoring to detect suspicious activity and meet anti-money laundering (AML) regulatory requirements”, adding:
Government agencies use TRM Forensics to investigate complex encryption-related crimes, including fraud, hacking, and terrorist financing.
The TRM team includes threat financing experts from the Federal Bureau of Investigation (FBI), the US Secret Service and Europol. It also includes data scientists from companies such as Apple, Amazon, and Google.
What do you think of the large companies that invest in TRM? Please let us know in the comments section below.
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