FTX US, a US-Regulated Crypto Exchange, Implements Anti-Financial Crime Compliance, Risk Management Tools

FTX US, a US-regulated crypto exchange, announced it has implemented a comprehensive suite of anti-financial crime compliance and risk management tools created by TRM Labs, a blockchain intelligence provider.

FTX US, the US division of FTX, has reportedly integrated TRM’s Transaction Monitoring and Forensics tools to monitor transactions on the platform for indicators of financial crime risk and investigate suspicious activity via integrated case management.

Brett Harrison, President of FTX US, stated:

“The integration of TRM Labs’ compliance tech stack was a clear decision to make and an essential move for our organization. Knowing that compliance is of the utmost importance, our approach to the business is to ensure our platform uses the most advanced risk management tools on the market, so that our users can trade with ease and peace of mind.”

This announcement comes following steady growth and expansion at FTX US. The firm recently confirmed the completion of its acquisition of regulated futures exchange LedgerX and the rebrand to FTX US Derivatives, which came after the introduction of a non-fungible token (NFT) marketplace in October of this year.

Harrison remarked:

“With the establishment of FTX US Derivatives and our entrance into regulated options and futures trading, it is imperative for our organization to deliver industry leading compliance tools for our user base. Our addition of TRM Labs demonstrates our commitment to using the most cutting edge technology available for this purpose.”

TRM’s risk intelligence platform is being used by financial institutions, crypto businesses, law enforcement and regulatory agencies in order to effectively monitor, detect and investigate financial crimes and fraud in the crypto-asset sector, while complying with anti-money laundering (AML) regulatory requirements.

TRM’s tech offers automated alerts on high-risk activity and accelerates the process of source and destination of funds tracing for investigators, which is “key for compliance teams who need to stay on top of a large number of cases,” the update explained.

Esteban Castaño, CEO and co-founder of TRM Labs, said:

“Investing in the right compliance and risk management solutions can accelerate growth. Fast-growing companies like FTX US are choosing TRM because we deliver the comprehensive data, asset coverage and cross-chain analytics they need to manage risk and unlock new opportunities.”

As previously reported, FTX US is a US-regulated digital currency exchange, built from the ground up. Its mission is for FTX US to “grow the digital currency ecosystem, offer US and international traders a platform that inspires their loyalty, and to become the market leading US regulated cryptocurrency exchange by volume within the next two years.”

As covered, TRM Labs offers blockchain intelligence to organizations who have to reliably monitor, detect and investigate crypto-related fraud and financial crime.

TRM Labs claims that is trusted by financial institutions, crypto businesses, and government agencies throughout the world. Its platform includes tools for crypto wallet screening, transaction monitoring, VASP due diligence, and investigative tracing.

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