The largest US bank JPMorgan makes new investment in crypto firm.
Crypto analytics firm TRM Labs said in a statement that JPMorgan is investing in “crypto compliance and risk management technology.”
The investment in TRM Labs will help the banking giant achieve regulatory compliance, according to Umar Farooq, CEO of Onyx by JPMorgan, JPMorgan’s blockchain-based payments processing subsidiary.
“TRM’s vision to ensure security and integrity in the crypto ecosystem through advanced analytics solutions is aligned with our goals of creating compliant and secure blockchains at JPMorgan.
We have spent the last six years exploring the possibilities and viability of blockchain technology. Companies that are leaders in infrastructure like TRM will help lead the future in the secure use of blockchain and crypto”
According to TRM Labs, the company’s TRM Transaction Monitoring product helps detect fraud and financial crimes .
Previously, Tiger Global led a $60 million fundraising round for TRM Labs.
34540
