American Express’ Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square Inc.), and Paypal Ventures are among investors in the latest funding round of crypto transaction monitoring and forensics platform TRM.
Visa, Citi and Amex Invest in TRM Platform
TRM’s crypto transaction monitoring and forensics platform TRM made Tuesday investment announcements from financial institutions during its Series A funding round.
The company has raised $60 billion from leading financial institutions, including American Express’ Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square Inc.), and Paypal Ventures.
Tiger Global led the funding round. It also included investments from 50 of the world’s leading operators including Coinbase President and COO Emilie Choi.
Esteban Castaño, TRM’s cofounder and CEO, commented:
Crypto has moved faster than any other sector over the past few years. Organizations need a blockchain intelligence partner that can stay ahead of the evolving risk landscape — from ransomware attacks to defi [decentralized finance] exploits.
TRM detailed: “In support of our mission to build a safer financial system for billions of people, we developed the first blockchain intelligence platform that combines cross-chain data with threat intelligence, advanced analytics, and intuitive visualizations to help organizations detect crypto fraud and financial crime.”
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,” the company said, adding:
TRM Forensics is used by government agencies to examine sophisticated crypto-related crimes, including hacks and terrorist financing.
TRM experts include threat finance specialists from Europol, the U.S. Secret Service and the Federal Bureau of Investigation. This team includes data scientists and engineers from companies like Apple, Amazon, Google, etc.
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