3 crypto regtech leaders join forces to provide all-in-one solution

Rick Steves

Organizations operating in the crypto space are tasked with managing a complex regulatory landscape in a rapidly evolving market.

TRM Labs, Eventus Systems, and Notabene have joined forces to form “Project TEN”, which aims to provide a comprehensive offering to address a host of risk management and compliance challenges facing firms in the digital asset space.

The three market leaders bring expertise in blockchain analytics, digital asset trade surveillance, and Travel Rule, respectively, and together will be able to enhance compliance within the cryptocurrency space.

Project TEN brings a one-stop solution for firms across the digital asset ecosystem, solving for cryptocurrency anti-money laundering (AML), trade surveillance, as well as Travel Rule compliance for Virtual Asset Service Providers (VASPs).

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.

Esteban Castaño, Co-founder and CEO of TRM Labs, said: “Organizations operating in the crypto space are tasked with managing a complex regulatory landscape in a rapidly evolving market. Project TEN helps organizations address this complexity by bringing distinct areas of risk management expertise into one comprehensive offering.”

Travis Schwab, CEO at Eventus, said: “We’re delighted to join forces with two other market leaders in the global digital asset space to introduce efficiencies and make lives easier for crypto firms striving to hold themselves to the highest standards, both to attract investment flows and meet regulatory obligations. Powered in part by our Validus trade surveillance platform, 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.”

Pelle Brændgaard, CEO of Notabene, commented: “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. We’re thrilled to embed our privacy-preserving Travel Rule solution into Project TEN, the first comprehensive offering allowing institutional clients to enter the crypto space in a regulatory-compliant manner.”

FTX.US, one of the largest and most ambitious cryptocurrency exchanges nowadays, has recently deployed TRM Labs’ compliance and risk management tools.

Tether, the largest stablecoin by market cap, has started using Notabene, the end-to-end solution designed for crypto Travel Rule compliance, in order to combat money laundering and crime in cross-border VASP-to-VASP transactions.

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