Firms Partner for Digital Asset Compliance Solution
Posted by Colin Lambert. Last updated: November 15, 2021
TRM Labs, Eventus Systems and Notabene have announced a partnership to create a one-stop solutions for firms across the digital assets ecosystem, solving for cryptocurrency anti-money laundering, trade surveillance and Travel Rule compliance for Virtual Asset Service Providers (VASPs).
Project Ten will provide the marketplace with a comprehensive offering to address a host of risk management and compliance challenges facing firms in the digital asset space, the firms say, adding that crypto-native firms as well as traditional financial institutions moving into virtual assets will benefit from a joint service designed to help maximise the efficiency of regulatory compliance operations.
The offering will feature Eventus’ trade surveillance and market risk applications; TRM Labs’ transaction monitoring, wallet screening and forensics tools; and Notabene’s counterparty risk management and Travel Rule compliance software.
“Organisations operating in the crypto space are tasked with managing a complex regulatory landscape in a rapidly evolving market,” says Esteban Castaño, co-founder and CEO of TRM Labs. “Project Ten helps organisations address this complexity by bringing distinct areas of risk management expertise into one comprehensive offering.”
Eventus CEO Travis Schwab adds, “The Project Ten partnership offers a compelling solution to a wide cross-section of participants, including traditional financial institutions looking to enter the digital asset space while ensuring they have the same robust processes in place that they apply to other asset classes.”
Meanwhile, Pelle Brændgaard, CEO of Notabene, says, “There are many distinct tasks that must be addressed by any institution offering digital asset services. Project Ten creates a comprehensive compliance solution for firms across the rapidly growing global digital asset space. Partnerships are critical as many complex components must work together to manage overall compliance risk.”