- TRM Labs received $60 million Series B funding.
- Huge companies such as Visa (NYSE:V), Citi Ventures, and PayPal (NASDAQ:PYPL) Ventures participated.
The crypto world continues to be acknowledged by countries and companies worldwide. For example, TRM Labs, a network that monitors digital asset transactions to protect financial institutions from fraud and money laundering, received a $60 million Series B funding round.
Big day Announcing the close of our Series B funding round led by @TigerGlobalFund. Read the full story here: https://t.co/XmdaqYRgFe pic.twitter.com/rVoCDS06xX— TRM Labs (@trmlabs) December 7, 2021
The event was led by Tiger Global. In addition, it was also attended by huge companies around the world such as Visa, Citi Ventures, DRW Venture Capital, PayPal Ventures, Marshall Wace, Block (formerly Square Inc (NYSE:SQ).). Esteban Castaño, co-founder and CEO of TRM explained,
Crypto is moving faster than any sector in our lifetimes. Organizations need a blockchain intelligence partner that can stay ahead of the evolving risk landscape — from ransomware attacks to DeFi exploits. This round enables TRM to continue to offer the most reliable data and most innovative technology solutions in the market to its customers.
Some crypto networks have already acknowledged the technology of TRM Labs in the space. The Circle, FTX US, and Moonpay are some examples of companies that use the system of TRM Labs. Through this, we can say that TRM has already established itself as a firm that protects digital assets. On the other hand, the crypto world keeps growing every day, and as it grows, the threat against the industry also widens. TRM Labs is just one example of an organization that aims to secure and protect financial institutions from cyber threats and malicious fraud.