J.P. Morgan Chase announced an investment in blockchain intelligence platform TRM Labs, becoming the latest in a growing number of Wall Street firms to expand into the cryptocurrency sector. JP Morgan Invests in TRM Labs Implementing anti-money laundering (AML) protocols is crucial for large-scale financial payment firms like JPMorgan. The company’s latest investment hence will help blockchain intelligence platforms like TRM Labs to fund its cryptocurrency compliance and risk management technology. TRM Labs targets cryptocurrency fraud and financial crime with transaction monitoring and forensic analysis tools. While the investment amount remains undisclosed, the fresh investment comes less than three months after TRM Labs raised $60 million in a round joined by Visa, Amex Ventures, Citi Ventures, PayPal Ventures, and Block (formerly Square). “This investment clearly highlights the significance of the growing crypto economy and the importance of building trust and safety in this ecosystem to sustain its growth. We’re thrilled to build on this opportunity as we work to enable a safer crypto economy for all,” said Esteban Castaño, Co-Founder and CEO of TRM. Detecting Cryptocurrency Frauds and Financial Crimes TRM Labs targets cryptocurrency fraud and financial crime with transaction monitoring and forensic analysis tools. The platform supports over a dozen blockchain platforms and provides cross-chain analytics to detect suspici...
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