This year’s volatility in the crypto markets has seen billions of dollars wiped out of the industry. However, one startup, TRM Labs, b TRM Labs cofounder and CEO Esteban Castaño told Insider that TRM Labs grew at its fastest pace ever in the 2nd quarter. The startup has raised $80 million since launching in 2017, including a $60 million Series B last December that saw participation from the venture arms of financial giants like Citi, PayPal, and American Express. And this June, TRM Labs announced its acquisition of UK-based investigative blockchain training company CSITech. TRM Labs provides compliance, risk management, and anti-fraud tools to financial firms, blockchain players, and regulators alike. The startup has inked partnerships with at least one major financial firm, JPMorgan — which announced a strategic investment in TRM Labs this February — and counts Shopify and crypto-native giants like Circle and FTX as clients.
Crypto Startups Are Flourishing Despite The Crypto Market Crash
elieves there is a, increased interest in its back-end tools used by a swathe of players working across digital assets following the market’s turn.