Yesterday, we informed you that the giant Goldman Sachs is considering diversifying its offer of cryptocurrencies, and today we have further news that another giant, this time JPMorgan, has decided to support the blockchain company through an investment. JPMorgan Chase & Co. thus becoming another company that invests in TRM labs based in San Francisco, a leader in blockchain. The company is known for monitoring cryptocurrency transactions and is proud to provide exchanges with solutions for “trace the movement of stolen or other illicitly obtained funds,” which provides significant assistance in complying with AML and CFT regulations.
TRM CEO Esteban Castaño shared his enthusiasm and expressed his views on the further integration of cryptocurrencies: “This investment clearly highlights the significance of the growing crypto economy and the importance of building trust and safety in this ecosystem to sustain its growth.” Most banks continue to fear cryptocurrencies, and this could give JPMorgan a competitive advantage that the giant could take advantage of in the future.
