Blockchain intelligence platform TRM Labs has joined forces with banking infrastructure firm Finray Technologies to create a unified system that monitors both crypto and fiat transactions.
Finray’s compliance and decision engine, XZiel, has been integrated with TRM’s blockchain intelligence tools to enable real-time alert triaging, automated escalation, case management, and risk assessment across crypto and fiat transactions, the companies announced on Tuesday.
With stablecoin settlements and fiat payment flows becoming increasingly interconnected and with new regulations such as Europe’s Markets in Crypto-Assets (MiCA), institutions operating in both markets now require unified oversight, according to Finray Technologies and TRM Labs.
The system is designed to help institutions implement structured, auditable monitoring programs aligned with MiCA requirements and anti-money laundering obligations, streamlining market entry for regulated entities.
MiCA covers a range of aspects from crypto asset regulation and provider requirements to jurisdictional responsibilities. Source: Cointelegraph
Bitcoin, Ethereum, and other blockchains covered
Key features include real-time risk alerts for suspicious crypto transactions, using the same workflow as traditional payment monitoring. Blockchains covered include Bitcoin, Ethereum and Tron.
The system supports wallet screening during onboarding and ongoing monitoring, assessing the risk of wallet addresses across both on-chain and off-chain environments.
It also automatically records a detailed, time-stamped audit trail, documenting why an activity was flagged as risky, who reviewed it and what decision was made in the event of regulatory or audit reviews.
Aimed at banks expanding into crypto
Finray and TRM Labs’ new system is aimed at exchanges, custodians serving institutional clients, corporate treasuries, banks, and electronic money institutions looking to expand their crypto offerings or enable crypto on- and off-ramp services, the firms said.
Related: TRM Labs completes $70M investment round at $1B, becomes crypto unicorn
“Compliance teams can’t manage fiat and crypto risk in separate systems anymore,” Oleksandr Potapenko, the CEO of Finray, said in a statement.
“Embedding TRM’s blockchain intelligence directly into XZiel gives our customers a single, auditable view of risk across both rails — where they can hold, clear, escalate, and document decisions within one environment. That is what operating under MiCA and evolving supervisory expectations actually demands,” he added.
A growing number of institutions are already expanding into crypto. More than half of the top US banks have started or announced plans to offer Bitcoin-related services, such as trading or custody Bitcoin financial services firm River said last month.
Magazine: Is China hoarding gold so yuan becomes global reserve instead of USD?