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Cryptocurrency compliance and risk management platform TRM has announced it attracted $4.2 million investments from Initialized Capital, Blockchain Capital, PayPal Ventures, and Y Combinator.

The total amount of investments is reportedly equal to $5.9 million.

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TRM co-founders Esteban Castaño and Rahul Raina

Esteban Castaño, the Co-Founder and CEO of TRM Labs claims the platform builds a safer financial system for billions of people.

"At TRM, we are fueled by a fundamental belief that cryptocurrency and blockchain can democratize access to financial services and empower billions of people," Castaño added.

TRM can audit more than a dozen blockchains, and analyzes "billions of virtual asset transactions," states the official announcement.

Previously iHodl reported that one of the largest South Korean blockchain ecosystems ICONLOOP (ICX) raised over $8 million in Series A funding, an official release that was shared with iHodl states.

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