WazirX Partners With TRM Labs to Deploy Leading Crypto Compliance Platform
News Desk, News Nation 360 : WazirX, India's largest cryptocurrency exchange, has announced its collaboration with TRM Labs, a leading blockchain analytics provider, to enhance anti-money laundering and anti-fraud measures for transactions conducted on the WazirX platform. The partnership comes as crypto usage and demand surges in India, with trading volumes increasing significantly following recent clarification on the access of banking services to cryptocurrency businesses in India. Nischal Shetty, founder and CEO of WazirX said that ensuring that their operations are secure and compliant with global regulatory requirements is critical to their success, at the same time, they want to meet their customers' expectations for fast, seamless transactions. TRM's platform helps us achieve this balance with an AML (Anti Money Laundering) solution that's easy for large compliance teams to use, and underpinned by best-in-class blockchain analytics. TRM Labs provides a full-service platform for crypto compliance and risk management, including tools for wallet screening, transaction monitoring and investigations. TRM's monitoring capability spans 360,000+ digital assets, including BEP-20 tokens (Binance Smart Chain), ERC-20 tokens (Ethereum), Dogecoin, Cardano, and many more, representing the most extensive asset coverage in the industry. Indian authorities have previously expressed concern that crypto assets could be used for criminal activity such as money laundering and funding terrorism, signalling the importance for exchanges like WazirX to demonstrate a robust capability to detect and prevent illicit activity from occurring on its platform.
Report : Anustup Kundu