PayPal has reportedly joined the latest funding round in cryptocurrency compliance platform TRM Labs.
The funding round totalled $4.2mn.
It included PayPal’s investment arm PayPal Ventures as well as Initialized Capital, Blockchain Capital and Y Combinator.
The total raised in TRM’s seed round is now $5.9mn.
What does this mean?
The cryptocurrency compliance and risk management platform integrated with blockchains to detect fraud and financial crime, something vitally important as big businesses such as PayPal look at opportunities in the fairly unregulated cryptocurrency sector.