Crypto Startup TRM secures USD $1.7 Million Investment for Regulatory Compliance
Cryptocurrencies have entirely redefined the way our financial institutions work and think. However, there is a long way before some of the challenges associated with cryptocurrencies can be overcome. Apart from security vulnerabilities and other issues related to the technology, one of the biggest challenge crypto faces is that of compliance. TRM, a RegTech startup is planning on taking on the challenge of crypto compliance head-on. The regulatory overheads required to operate and turn a startup into a financial institution is huge. TRM is working on a Token Relationship Management platform, with a legal team of about 40 people. The platform is designed to streamline the entire on-chain AML compliance process for companies based on digital assets.