WazirX Partners with TRM Labs to Deploy Leading Crypto Compliance Platform | Business

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SAN FRANCISCO – (BUSINESS WIRE) – July 1, 2021–

WazirX, India’s Largest Cryptocurrency Exchange, Announces Collaboration with TRM Labs, a Leading Blockchain Analysis Provider, to Improve Anti-Money Laundering Measures and fraud for transactions carried out on the WazirX platform.

TRM Labs provides a comprehensive service platform for crypto compliance and risk management, including tools for portfolio screening, transaction monitoring, and investigations. TRM’s monitoring capacity spans over 360,000 digital assets across more than 20 blockchains, including Ethereum, Binance Smart Chain, Dogecoin, Cardano, Bitcoin and others, representing the most extensive asset coverage in the world. sector.

The partnership comes as crypto usage and demand increase in India, with transaction volumes increasing dramatically following a recent clarification on access to banking services for cryptocurrency businesses in India.

Indian authorities have previously expressed concern that crypto assets could be used for criminal activities such as money laundering and terrorist financing, signaling the importance for exchanges like WazirX to demonstrate a robust ability to detect and prevent illegal activities from occurring on its platform.

“Ensuring that our operations are secure and comply with global regulatory requirements is critical to our success; at the same time, we want to meet the expectations of our customers for fast and transparent transactions. TRM’s platform helps us achieve this balance with an AML (Anti Money Laundering) that is easy to use for large compliance teams, but also underpinned by the best blockchain analytics, ”said Nischal Shetty, founder and CEO of WazirX.

“Forward-thinking crypto firms like WazirX recognize that the right risk management tool is a catalyst for growth. Our next-generation platform is designed for clients who need to act quickly to meet consumer demand for new assets while maintaining the highest level of regulatory compliance and risk management. ”Says Esteban Castano , CEO of TRM Labs.

About TRM Labs

TRM Labs provides blockchain information to organizations that need to detect, assess, and investigate crypto-related fraud and financial crime. Trusted by financial institutions, crypto firms, and government agencies around the world, TRM’s risk management platform includes tools for crypto wallet screening, transaction monitoring, know-how checks and investigations. Your-VASP. The platform enables a rapidly growing cohort of organizations to securely adopt cryptocurrency-related transactions, products and partnerships. www.trmlabs.com

About WazirX

WazirX is India’s largest and most trusted crypto exchange with over 6.5 million users and monthly volume of $ 6.2 billion. WazirX’s mission is to make crypto accessible to everyone in India. It is available to the global public and key features include instant INR (fiat) deposit and withdrawal options to help users get in and out anytime 24/7, QuickBuy to enable users to buy their first crypto with one click, Smart Token Fund to help crypto investors. find expert traders and let them manage their crypto portfolio, and the world’s first auto-match P2P engine with high liquidity. https://wazirx.com

See the source version on businesswire.com: https://www.businesswire.com/news/home/20210701005766/en/

CONTACT: Yalda Rafie

SutherlandGold for TRM Labs

[email protected]

KEYWORD: CALIFORNIA UNITED STATES INDIA NORTH AMERICA ASIA PACIFIC

INDUSTRY KEYWORD: FINANCE SECURITY BANKING PROFESSIONAL SERVICES TECHNOLOGY

SOURCE: TRM Laboratories

Copyright Business Wire 2021.

PUB: 07/01/2021 13:07 / DISC: 07/01/2021 13:07

http://www.businesswire.com/news/home/20210701005766/en

Copyright Business Wire 2021.

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