NEWS — BUSINESS, KOLIN LUKAS — DECRYPT MEDIA CREDIt

Kolin Lukas — PayPal-backed compliance startup inks deal with institutional crypto exchange

PayPal-backed TRM Labs will provide real-time transaction monitoring to bolster the digital asset exchange’s regulatory compliance.

Synopsis

• TRM Labs will provide real time crypto transaction monitoring for the FalconX exchange.
• FalconX raised more than $17 million in venture funding earlier in 2020.
• TRM Labs is supported by PayPal and Y Combinator.

Crypto exchanges are ratcheting up the pressure when it comes to illegal activity.

Digital asset exchange FalconX announced on Tuesday a partnership with Paypal-backed TRM Labs to bring real-time transaction monitoring to the platform. TRM’s transaction monitoring service will automatically analyze digital asset transactions to detect potential money laundering and other illegal activities on the FalconX exchange.

It’s another sign that a focus on regulatory compliance will be paramount for the next generation of digital asset exchanges.