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.

May 10, 2021 at 7:01 p.m. UTC
Updated Sep 14, 2021 at 12:53 p.m. UTC

Compliance firm TRM Labs has added the Dogecoin blockchain to its suite of services, enabling clients to detect fraud and financial crime involving DOGE, currently the world’s fifth-largest 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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