FTX US Adds TRM Labs for Compliance

Compliance Taps AI

FTX US, a leading US-regulated cryptocurrency exchange, announced it has implemented a full suite of anti-financial crime compliance and risk management tools developed by TRM Labs, a blockchain intelligence provider. FTX US has integrated TRM’s Transaction Monitoring and Forensics tools to monitor transactions on the platform for indicators of financial crime risk and investigate suspicious activity through integrated case management.

Brett Harrison, President of FTX US commented on today’s news: “The integration of TRM Labs’ compliance tech stack was a clear decision to make and an essential move for our organization. Knowing that compliance is of the utmost importance, our approach to the business is to ensure our platform uses the most advanced risk management tools on the market, so that our users can trade with ease and peace of mind.”

This announcement comes amid rapid growth and expansion at FTX US. The Company recently announced the completion of its acquisition of regulated futures exchange LedgerX and subsequent rebrand to FTX US Derivatives, which followed the launch of a non-fungible token (NFT) marketplace in October.

Harrison continued, “With the establishment of FTX US Derivatives and our entrance into regulated options and futures trading, it is imperative for our organization to deliver industry leading compliance tools for our user base. Our addition of TRM Labs demonstrates our commitment to using the most cutting edge technology available for this purpose.”

TRM’s risk intelligence platform is used by financial institutions, crypto businesses, law enforcement and regulatory agencies to monitor, detect and investigate financial crimes and fraud in the digital asset space, and comply with anti-money laundering regulatory requirements. TRM’s proprietary technology provides automated alerts on high-risk activity and speeds the process of source and destination of funds tracing for investigators, which is key for compliance teams who need to stay on top of a large number of cases.

“Investing in the right compliance and risk management solutions can accelerate growth,” said Esteban Castaño, CEO and co-founder of TRM Labs. “Fast-growing companies like FTX US are choosing TRM because we deliver the comprehensive data, asset coverage and cross-chain analytics they need to manage risk and unlock new opportunities.”

Source: FTX US

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