TRM Plugs Into Dogecoin Blockchain to Take a Bite Out of Crypto Crime
The PayPal-backed firm believes a dash of compliance will help spur further adoption of the meme-based cryptocurrency.
- The San Francisco-based firm provides data analytics to monitor risk, detect financial crime and strengthen anti-money laundering (AML) compliance.
- TRM Labs believes the integration of these tools with the Dogecoin blockchain will help market participants in the DOGE ecosystem interact with the network with greater confidence.
- “By integrating with Dogecoin, we offer the ability to detect and investigate cryptocurrency fraud and financial crime, enabling our shared goal of building a safer financial system for billions of people,” said Esteban Castaño, CEO of TRM Labs.
- Founded in 2018, TRM Labs raised $4.2 million in funding led by PayPal ventures in November 2019.
- The company appointed former U.S. Treasury and Financial Crimes Enforcement Network (FinCEN) senior adviser Ari Redbord as its head of legal and government affairs in October.
- Increasingly large firms are embracing DOGE for payments – from Elon Musk's SpaceX to the Oakland A's Major League Baseball team.
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