RATE Group | PayPal Leads $4.2M Funding Round for Crypto Risk Management Platform
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PayPal Leads $4.2M Funding Round for Crypto Risk Management Platform

24 Nov PayPal Leads $4.2M Funding Round for Crypto Risk Management Platform

Posted at 16:40h in Cryptocurrency News by

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Payment processor PayPal has led a $4.2 million funding round for cryptocurrency risk management platform TRM Labs.

In a Nov. 19 press release TRM Labs announced that it secured $4.2 million in an investment round led by PayPal, with participation from other top investors including Initialized Capital, Blockchain Capital and Y Combinator.

Building solutions to prevent crypto fraud and financial crime

TRM, which was founded in 2018, aims to support financial institutions across the United States, Latin America, Asia and Europe by measuring, monitoring and mitigating their crypto risk exposure, meeting regulatory requirements and helping streamline their Anti-Money Laundering compliance.

TRM Labs CTO and co-founder Rahul Raina said that PayPal’s investment in the company shows “their continued commitment to ensuring safety and compliance as the digital payments landscape evolves and innovates.” 

TRM’s new funding brings their total amount raised to $5.9 million and will enable TRM…

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