Elodie Collins
The Federal Risk and Authorization Management Program has conferred the high authorization designation to TRM Labs, a provider of blockchain intelligence. The San Francisco, California-headquartered company said Tuesday that its blockchain intelligence tools are now available to federal agencies through the FedRAMP Marketplace.
TRM Labs’ Blockchain Intelligence
TRM Labs offers tools that enable government agencies to investigate and prosecute crimes involving cryptocurrency. As cryptocurrency usage worldwide grows, cases of crypto crimes, from ransomware to tax evasion, also increase.
According to the company, hackers stole a total of $1.38 billion in cryptocurrency in the first half of 2024. For comparison, $657 million was reportedly lost to crypto hacks and exploits during the first half of 2023.
FedRAMP Authorization Process
A FedRAMP authorization is a requirement for businesses that want to offer cloud capabilities to the federal government. Managed by the FedRAMP Program Management Office, the program provides a set of security requirements and standards that cloud providers must meet to ensure that their products and services are safe for use on government systems.
The program has a tiered authorization system: low, moderate and high.
“Achieving a FedRAMP High authorization reflects our commitment to providing federal agencies with the most secure and reliable blockchain intelligence available,” said Esteban Castano, CEO of TRM Labs.
“We are committed to providing a white-glove migration experience, ensuring your teams can achieve compliance quickly so you can continue to focus on your mission,” added Rahul Raina, the company’s chief technology officer.
TRM Labs tools are listed on the FedRAMP Marketplace under the Palantir Federal Cloud Service.
