TRM Labs, Eventus and Notabene team up to deliver compliance solution for digital asset ecosystem

Three companies in the global digital asset regulatory and compliance space have announced their collaboration to create a one-stop solution for firms across the digital asset ecosystem. The new solution helps companies comply with cryptocurrency anti-money laundering (AML), trade surveillance, as well as Travel Rule requirements for Virtual Asset Service Providers (VASPs).

“Project TEN” is formed by TRM Labs, a blockchain analytics provider, Eventus Systems, global provider of digital asset trade surveillance solutions, and end-to-end Travel Rule solution provider Notabene. Thew solution provides the marketplace with a comprehensive offering to address a range of risk management and compliance challenges firms face in the digital asset space.

Crypto-native firms and traditional financial institutions moving into virtual assets, will be able to benefit from the launch of Project TEN. The joint service is built to help firms maximize the efficiency of regulatory compliance operations. Project TEN will feature Eventus’ trade surveillance and market risk applications, it will also include TRM Labs’ transaction monitoring, wallet screening and forensics tools, as well as 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.

Eventus CEO Travis Schwab commented:

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, added:

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.

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