According to a TRM Labs’ press release on 19 November, USD 4.2 million was secured in an investment round led by PayPal, with participation from other investors such as Initialized Capital, Blockchain Capital, and Y Combinator. TRM’s new funding will allow the company to grow its engineering and data science teams, expand into new markets, and accelerate product development.
TRM was founded in 2018, and its goal is to support financial institutions across the US, LATAM, Asia, and Europe by measuring, monitoring, and mitigating their crypto risk exposure, meeting regulatory requirements, and helping facilitate their AML compliance.
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