Solana Integrates with TRM Labs to Offer Enhanced Security and Compliance for Network Members
A new integration with Solana, the fastest growing decentralized blockchain, by TRM Labs, a leading blockchain analytics provider, has enabled anti-financial crime monitoring through TRM’s risk intelligence platform for Solana’s native token (SOL) and SPL Token assets issued on Solana.
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“Solana has incredible momentum already and we’re proud to advance it further by enabling this critical trust and safety layer.”
Solana is an ultra-fast decentralized blockchain that was built to enable scalable, user-friendly apps for the world. With over 400 projects spanning DeFi, NFTs, Web3 and more, it is currently the fastest growing ecosystem in crypto. The number of SOL tokens in circulation has more than quadrupled in the past month, and it is currently the seventh largest cryptocurrency by market cap. Additionally, the circulation of USDC on Solana has crossed over $1 billion.
TRM is a blockchain intelligence firm that helps organizations identify financial crime risk in blockchain-based transactions, wallets, addresses and related entities.
“By integrating with Solana, we offer organizations building on the Solana network the ability to detect cryptocurrency fraud and financial crime and strengthen their compliance with AML/CFT regulations,” says Esteban Castaño, co-founder and CEO of TRM Labs. “Solana has incredible momentum already and we’re proud to advance it further by enabling this critical trust and safety layer.”
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TRM’s architecture was uniquely designed to enable swift integration with new blockchains and new asset mapping. The addition of Solana and Solana-based assets brings TRM’s current scope of coverage to 23 blockchains and over 900,000 digital assets, more than any other analytics tool on the market by several multipliers.
The TRM Solana network integration provides all TRM users with access to Solana network data and the ability to leverage TRM tools to comply with AML/CFT regulatory requirements:
- 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
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