WazirX Partners With TRM Labs to Launch Crypto Compliance Platform

  • TRM Labs will provide WazirX with tools for wallet screening, transaction monitoring, and investigation.
  • The Indian exchange has seen a surge in user demand as banking restrictions on crypto companies have loosened.
Wazirx logo on phone screen


According to a WazirX press release from 1 July, the collaboration with TRM will enhance the anti-money laundering and anti-fraud measures on the WazirX exchange. TRM Labs provides a platform for crypto compliance and risk management, including tools for wallet screening, transaction monitoring and investigations. The platform also provides one of the most extensive coverages in the industry, with its monitoring capability spanning over 20 blockchains, including Bitcoin, Ethereum, Binance Smart Chain, Cardano, and Dogecoin.

WazirX’s collaboration with TRM is a result of a surge in cryptocurrency usage India has seen in the past several months. The Supreme Court’s loosening restrictions on providing banking services to cryptocurrency businesses have led to a significant increase in trading volume on Indian exchanges, including WazirX.

“Ensuring that our operations are secure and compliant with global regulatory requirements is critical to our success; at the same time, we want to meet our customers’ expectations for fast, seamless transactions,” said Nischal Shetty, the founder and CEO of WazirX. “TRM’s platform helps us achieve this balance with an anti-money laundering solution that’s easy for large compliance teams to use, but also underpinned by best-in-class blockchain analytics.”

Esteban Castano, the CEO of TRM Labs, said that their platform was designed for forward-thinking businesses like WazirX that need to move quickly to meet high regulatory standards and consumer demand.

Related Coverage
WazirX Told to Move Funds Out of Binance Wallets
  • Binance is ending its collaboration with WazirX, and has ordered the Indian exchange to withdraw its assets held in Binance wallets by the end of 3 February.
  • After the deadline, WazirX will need to work out an arrangement with Binance on how to withdraw any remaining crypto assets from its wallets.
February 3, 2023, 5:35 PM


WazirX Regains Access to Bank Accounts
  • The Enforcement Directorate of India froze WazirX’s bank accounts back in August, alleging the exchange had assisted “illegal loan apps” in laundering funds.
  • The exchange explained that most accounts connected to ED’s investigation had already been flagged as suspicious, and blocked between 2020 and 2021.
Coinbase Granted Crypto Asset Service Provider Approval in Italy
  • Organismo Agenti e Mediatori (OAM), Italy’s anti money laundering regulator, recently added new requirements for crypto companies wishing to operate in the country.
  • The exchange continues to strengthen its position in Europe, having submitted registration and license applications in several major markets in the area.