“We’re seeing crypto businesses continue to mature their compliance programs and make significant investments in improving their ability to monitor for money laundering, financial crime, and sanctions exp The financial sector, he added, represents TRM Lab’s second-fastest-growing client base, after the public sector but ahead of crypto-native businesses. “A big bank could pull a report from TRM to get the overall risk profile of, say, a large cryptocurrency exchange, and then make a decision if they want to serve that exchange,” Castaño said. In Castaño’s view, for the past five years, most traditional financial firms have been in a “research phase” when it comes to digital assets. Now, those same names are transitioning to a “deployment phase,” actively rolling out new crypto products and embracing new compliance tools. “Whereas a two-person crypto startup might function more like a speedboat, large financial institutions can sometimes function more like aircraft carriers,” Castaño said.
Crypto Startups Are Flourishing Despite The Crypto Market Crash
osure,” Castaño said.
