TRM Labs

TRM Labs offers a suite of products for financial and governmental institutions that cater to different aspects of financial security and crime prevention. These include TRM Transaction Monitoring, an automated and risk-based transaction monitoring solution for crypto assets; TRM Know-Your-VASP (virtual asset service providers), a tool to measure and monitor the risk of cryptocurrency businesses; TRM Forensics, a product to trace the flow of funds and link suspicious activity to real-world entities; and TRM Tactical, a tool to collect, investigate, and triage blockchain data on the frontline​​. Additionally, the company provides training through TRM Academy, offering courses for certified investigators, crypto fundamentals, crypto-compliance specialists, and advanced crypto investigators​​.

Key customers and partnerships

TRM Labs announced a partnership with K2 Integrity in November 2022, aiming to deliver a combined solution to the public and private sectors, enhancing connectivity between traditional finance, virtual asset service providers, and public sector agencies. The collaboration supported financial institutions, governments, regulators, virtual asset service providers, Web3 startups, NFT marketplaces, DeFi platforms, and other emerging service providers in proactively managing the risks of virtual assets and their related technologies​​.

TRM Labs’ solutions were integrated by Binance Custody in October 2022 to enhance regulatory compliance and risk mitigation for client holdings. TRM's analytics and intelligence technology will assist Binance Custody in screening high-risk wallets, monitoring suspicious transactions, and managing regulatory and reputational risks associated with digital assets. The integration strengthened Binance Custody's commitment to secure and compliant services for clients in the rapidly growing digital economy.

Funding and financials

The company raised USD 70 million in Series B funding in November 2022 led by Thoma Bravo, with participation from new investors like Goldman Sachs and existing investors such as PayPal Ventures and Citi Ventures. The proceeds were used for investment in product development and talent and to meet the growing demand in response to fraud incidents in the crypto space.