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- JP Morgan continues to expand its crypto involvement by investing in TRM Labs, the leading blockchain company.
- The investment highlights the growing crypto economy and the necessity to develop trust and safety in the ecosystem, says Esteban Castano, TRM Labs CEO and Co-Founder of TRM Labs.
- TRM labs has enhanced its growth rapidly in the recent past by taking significant decisions in the past.
A recent Press release disclosed that JP Morgan Chase is expanding its crypto investments with investing in the leading blockchain company, TRM Labs. And has become the recent one to invest in the crypto sector among the Wall Street firms.
Although the investment amount is not revealed yet, but it would facilitate the San Francisco-based company to fund its cryptocurrency compliance and risk management technology.
According to Esteban Castano, the CEO and Co-Founder of TRM Labs, The investment underlines the significance of the emerging economy of crypto and the importance of developing trust and safety in the ecosystem to sustain the growth. And that they are thrilled to build on the opportunity as they work towards building a safer crypto-economy for all.
The company claimed in the release that cryptocurrency businesses, financial institutions, regulators, and law enforcement agencies globally utilize TRM’s technology to look after transactions via cryptocurrency for tracing any illicit activity or movement of funds.
TRM’s solution for transaction monitoring facilitates the financial institutions and crypto businesses to carry out Anti-money laundering regulatory requirements and manage operational and reputational risk. Also, the law enforcement agencies make use of TRM’s Forensics tool to investigate crimes related to the crypto industry.
The company further said that it is the only one providing cross-chain analytics, making detecting and investigating high-risk activity across multiple blockchains easier.
Previously the company has raised $60 million in a Series. It has also previously collaborated with the significant blockchain platform Solana. TRM’s customer roster includes Anchorage Digital, the crypto custody bank, Binance, MoonPay, FTX US, etc.
Although the CEO of JP Morgan, Jamie Dimon, has been a critic of the sector but has considered the interest of clients in the booming industry. The bank got into Metaverse earlier in the month by opening a virtual lounge in Decentraland.
These ongoing investments by giants in the crypto industry signify that no matter what the critics say, the crypto industry has made a significant position in the finance world.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
