JPMorgan invests in cryptocurrency analytics firm
US-based JPMorgan, the largest investment bank, is acquiring TRM Labs to gain access to high-quality cryptocurrency analytics. This will help the financial institution to manage risk and comply with regulatory requirements.
According to a JPMorgan representative, the bank has been studying blockchain technologies and the possibility of their implementation in business processes for more than 6 years. Major infrastructure firms like TRM Labs are opening up access to safer and more profitable ways to use cryptocurrencies and blockchain technologies.
For example, one of the TRM Labs products allows you to monitor transactions, detecting fraud in the cryptocurrency space and various financial crimes. This tool is used by the FTX exchange from the USA and the Circle company.
It allows better compliance with anti-money laundering requirements. Which is very relevant at the present time.
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