Crypto Compliance Platform TRM Integrates with Hedera Hashgraph

Customers of Hedera Hashgraph will now be able to leverage TRM’s platform to comply with anti-money laundering (AML) and combating the financing of terrorism (CFT) regulatory requirements.

According to a press release published on 21 December, Hedera’s native cryptocurrency, HBAR, will be supported across all TRM solutions. All future assets issued on Hedera will also be supported, the company said.

The integration will enable Hedera users to benefit from custom analytics and solutions that allow them to monitor risk, detect crime, and strengthen Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) regulatory requirements.

Esteban Castaño, co-founder and CEO of TRM Labs, said that fulfilling these requirements is extremely challenging for public ledgers. By integrating with Hedera, TRM offered organizations building on the blockchain the ability to prevent fraud and financial crime, he explained.
Members of the Hedera ecosystem will now be able to leverage all of TRM’s tools and technologies, including transaction monitoring, wallet screening, and forensics.

As a result, other market participants can interact with Hedera with high confidence in its regulatory compliance. For example, exchanges listing HBAR can use TRM’s Transaction Monitoring service for AML compliance, while custodians can store HBAR and use TRM’s Wallet Screening for sanctions compliance.

“The Hedera and TRM Labs integration sets the foundation for additional AML initiatives,” the company said in the release.