Integration with Polygon expands TRM’s industry-leading blockchain coverage
Today we announced our integration with Polygon, an Ethereum scaling platform onboarding millions to Web3, to provide a full suite of anti-fraud and financial crime tools to members of the Polygon network who want to protect their applications from illicit financial activity.
As a blockchain intelligence provider, TRM is unique in that its data architecture allows for rapid integration with new blockchains and new asset mapping. The addition of Polygon brings TRM’s current scope of coverage to 25 blockchains and more than one million assets. TRM’s platform also provides cross-chain analytics, allowing users to detect risk exposure or trace the flow of funds across blockchains, an increasingly critical capability as cross-chain asset swaps are becoming more common.
Polygon now boasts more than 19,000 decentralized apps (dapps) on the network — a six-fold increase from the network’s 3,000 dapp milestone in October 2021. Many of these are decentralized finance (DeFi) based services and include blue-chips such as Aave, Curve, 0x, and Balancer.
“Polygon has experienced rapid growth and well-earned success over the past year due to their visionary work and belief in the power and promise of the crypto economy,” said Esteban Castaño, co-founder and CEO of TRM Labs. “We are excited to be a part of their journey by providing solutions to detect fraud and financial crimes for organizations operating on the Polygon platform.”
As a result of integration, users of TRM’s tools will have access to Polygon network data and the ability to leverage TRM tools to comply with AML/CFT regulatory requirements, including:
- Transaction Monitoring: Real-time risk scoring of cryptocurrency transactions for AML compliance, sometimes known as Know-Your-Transaction or KYT.
- Wallet Screening: Proactive screening of cryptocurrency addresses for sanctions and AML compliance.
- VASP Due Diligence: Comprehensive risk profiles of “Virtual Asset Service Providers” (VASPs) and other digital asset businesses.
- Forensics: Investigative tools to trace the source and destination of funds and link high-risk addresses to real-world entities.
TRM’s growing roster of blockchain coverage is unmatched in the blockchain intelligence industry, making the platform an ideal partner both for fast-growing crypto businesses who want to list new assets and law enforcement investigators alike. As the crypto industry matures and the regulatory landscape becomes more clear, TRM’s capabilities will continue to usher in an era where blockchain technology is a more secure place for business, innovation, and economic prosperity for users.
About TRM
TRM provides blockchain intelligence to help financial institutions, cryptocurrency businesses and public agencies detect, investigate and manage crypto-related fraud and financial crime. TRM’s risk management platform includes solutions for cryptocurrency anti-money laundering (AML), transaction monitoring and wallet screening, entity risk scoring including Know-Your-VASP, and transaction tracing for investigations. These tools enable a rapidly growing cohort of organizations around the world to safely embrace cryptocurrency-related transactions, products, and partnerships. TRM is based in San Francisco, CA and is hiring across engineering, product, sales, and data science. To learn more, visit www.trmlabs.com.
About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 19,000+ decentralized applications hosted, 1.6B+ total transactions processed, ~142M+ unique user addresses, and $5B+ in assets secured.
——
Disclaimer: The content of the above information is sourced (or provided), in entirety or in parts from an external source and the content may or may not be edited. The Wealth Today shall not be held liable for damages arising out of any action taken with respect to the use or consumption of information or service published above or anywhere else on the website. This website does not guarantee the accuracy, views, opinions, or any promises expressed in the above news.
If you find any errors or discrepancies in the above information, you can write to us at editor@thewealth.today.
——
