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.
Amex, Visa, Citi, Paypal Invest in the TRM platform
Crypto-transaction monitoring and forensics platform TRM on Tuesday announced investments by major financial institutions in its Series B funding cycle.
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.
The funding round was led by Tiger Global. 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 is moving faster than any industry in our lifetime. Businesses need a blockchain intelligence partner who can stay ahead of the changing risk landscape, from ransomware attacks to challenge [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 firms – 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 :
Government agencies use TRM Forensics to investigate sophisticated crypto-related crime including scams, hacks, and terrorist financing.
TRM’s 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 like Apple, Amazon and Google.
