United States-based investment firm Blockchain Capital has led a seed funding round for blockchain compliance startup TRM, a release from the firm reveals January. 31.

TRM declared today that it had a closed a funding round totalling $1.7 million. Tapas Capital, green D Ventures, The MBA Fund, and “strategic angel investors” also participated within the round. in keeping with TRM, the corporate is going to spend the funds on scaling its engineering talent and increasing the capabilities of its platform.

Based in San Francisco, the firm has developed a so-called token relationship management platform to assist crypto businesses streamline their Anti-Money laundering compliance. The platform reportedly offers due diligence solutions, dealing monitoring and customer relationship management.

The firm is additionally developing tools that use machine learning to automatically trace suspicious activity, like money laundering and market manipulation. As per the press release, over 20,000 individuals have already verified their Ethereum (ETH) address on TRM’s platform.

In November, Blockchain Capital’s co-founder and managing partner Brad Stephens led the $12.75 million strategic funding round for the digital securities startup Securitize, that additionally received investments from Coinbase Ventures, global Brain, NXTP and Xpring at Ripple.

Also today, crypto staking startup Staked declared it had sealed $4.5 million during a funding round led by Pantera Capital, with participation from Coinbase Ventures, Winklevoss Capital and others.

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