Blockchain Capital Leads Funding Round for Crypto Compliance Startup TRM


0

United States-based investment firm Blockchain Capital has led a seed funding round for  blockchain compliance startup TRM, a press release from the firm reveals Jan. 31.

TRM announced today that it had a closed a funding round totalling $1.7 million. Tapas Capital, Green D Ventures, The MBA Fund, and “strategic angel investors” also participated in the round. According to TRM, the company is going to spend the funds on scaling its engineering talent and expanding the capabilities of its platform.

Based in San Francisco, the firm has developed a so-called token relationship management platform to help crypto businesses streamline their Anti-Money Laundering compliance. The platform reportedly offers due diligence solutions, transaction monitoring and customer relationship management.

The firm is also developing tools that use machine learning to automatically trace suspicious activity, such as money laundering and market manipulation. As per the press release, more than 20,000 individuals have already verified their Ethereum (ETH) address on TRM’s platform.

In November, Blockchain Capital’s co-founder and managing partner Brad Stephens led the $12.75 million strategic funding round for the digital securities startup Securitize, which also received investments from Coinbase Ventures, Global Brain, NXTP and Xpring at Ripple.

Also today, crypto staking startup Staked announced it had sealed $4.5 million in a funding round led by Pantera Capital, with participation from Coinbase Ventures, Winklevoss Capital and others.


Like it? Share with your friends!

0

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
COINTELEGRAPH

Choose A Format
Story
Formatted Text with Embeds and Visuals
Video
Youtube, Vimeo or Vine Embeds
List
The Classic Internet Listicles
Open List
Submit your own item and vote up for the best submission
Countdown
The Classic Internet Countdowns
Poll
Voting to make decisions or determine opinions
Ranked List
Upvote or downvote to decide the best list item
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Meme
Upload your own images to make custom memes
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format