Token Relationship Management (TRM) cryptocurrency transaction monitoring and forensics platform raised $ 60 million in Series B funding round.
Leading financial institutions Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square Inc.) and Paypal Ventures from American Express were among the investors in the TRM platform, which monitors and forensic operations with cryptoassets. Tiger Global became the leader of the round, during which the platform attracted investments for $ 60 million.
“The cryptocurrency market is developing faster than any other sector of the economy. Therefore, companies need a blockchain analytics partner who can stay ahead of the changing risk landscape, from ransomware attacks to DeFi exploits. This funding round enables TRM to continue to offer its clients the most reliable data and most innovative technology solutions on the market, ”said Esteban Castaño, co-founder and CEO of TRM.
Castagno believes that as the use of digital assets expands, consumer expectations for fast, smooth and, above all, secure transactions are growing worldwide. However, satisfying the growing demand from consumers of digital assets by cryptocurrency companies while meeting regulatory obligations is hampered by the limitations of existing interfaces and blockchain analysis tools.
The platform has attracted investors by providing companies with new blockchain-based cryptographic compliance capabilities, Castagno said. The method used is more accessible, has a wide coverage and is customized in accordance with the parameters that are most important for each specific company.
The TRM team includes financial threat detecting experts from the FBI, the US Secret Service and Europol, as well as data scientists from Apple, Amazon and Google. The previous TRM investment round took place in February 2019.
