Announcing JPMorgan Chase & Co.'s Strategic Investment in TRM Labs

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Announcing JPMorgan Chase & Co.'s Strategic Investment in TRM Labs

February 28, 2022

TRM announced today that JPMorgan Chase & Co. has joined the roster of leading financial firms to invest in our crypto compliance and risk management technology. Financial institutions, cryptocurrency businesses, regulators, and law enforcement agencies worldwide use TRM’s technology to monitor cryptocurrency transactions for suspicious activity and to trace the movement of stolen or other illicitly obtained funds.

“This investment clearly highlights the significance of the growing crypto economy and the importance of building trust and safety in this ecosystem to sustain its growth,” said Esteban Castaño, Co-Founder and CEO of TRM. "We’re thrilled to build on this opportunity as we work to enable a safer crypto economy for all.”

“TRM’s vision to drive security and integrity in crypto ecosystems through sophisticated analytics solutions aligns with our ambitions for building blockchain products at J.P. Morgan that are compliant and secure,” said Umar Farooq, CEO, Onyx by J.P. Morgan. “We’ve spent the last six years exploring the possibilities and applicability of blockchain technology – leading infrastructure companies like TRM will help usher in the future of secure blockchain and crypto use cases.”

TRM's Transaction Monitoring solution allows financial institutions and cryptocurrency businesses to meet Anti-Money Laundering (AML) regulatory requirements and manage reputational and operational risk. Additionally, law enforcement agencies use our Forensics tool to investigate sophisticated crypto-related crime. TRM is the only platform that provides cross-chain analytics, which allows detection and investigation of high-risk activity across multiple blockchains, providing unique insight into money laundering techniques increasingly used by sophisticated threat actors.

This news comes on the heels of continued accelerated growth for TRM, its partners, and the crypto industry at large. In recent past, TRM:

  • Raised $60 million in Series B funding, led by Tiger Global and other prominent industry players.
  • Brought on leading cryptocurrency businesses as customers, such as Circle, FTX US and MoonPay.
  • Integrated with some of the most well-known and dynamic blockchain platforms, like Solana, to enable mitigation of high-risk activity and ensure that future crypto projects have a safe environment to grow and develop.
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