Sonic Labs Integrates TRM Labs for Better Fraud Detection Tools

• TRM Labs integration with Sonic enhances transaction monitoring and risk management for institutional digital asset security.
• Band Protocol’s push-based oracles improve real-time data reliability for Sonic Labs’ DeFi and AMM applications.

An important first towards improving asset security for institutional investors in the digital asset market is the recent integration of TRM Labs with Sonic. Renowned for their knowledge of blockchain intelligence solutions, TRM Labs is a major actor in preventing financial crimes and fraud.

Sonic is using the features of TRM to provide sophisticated compliance and risk management tools by means of this integration. This guarantees that transactions are closely watched for any questionable behavior, therefore adding more protection to institutional assets.

The influx of institutional money to #Sonic requires full asset safety @TRMLabs helps prevent digital asset fraud and financial crime on Sonic with its industry-leading blockchain intelligence platform. pic.twitter.com/wiI2Mi5TxI

— Sonic Labs (prev. Fantom) (@0xSonicLabs) October 16, 2024

Enhanced Compliance Tools Ensure Safety for Institutional Investors

Institutions employing Sonic get access to advanced fraud detection, real-time risk assessment, and sophisticated transaction monitoring through this alliance. These tools not only help to ease operations but also the process of fulfilling strict regulatory criteria, including Know Your Transaction (KYT) requirements and Anti-Money Laundering (AML) rules.

Particularly crucial as regulatory monitoring of the digital asset sector keeps increasing is the capacity to handle these compliance requirements more effectively.

This cooperation fits within a larger plan to create a more compliant and safer environment for handling digital assets. Strong security measures become even more important as more institutional money finds outlets like Sonic.

By including TRM Labs’ technologies, Sonic presents institutional investors with a more safe choice with peace of mind that their funds are under constant protection against possible risks.

Band Protocol’s Oracles Enhance Data Reliability in Sonic Ecosystem 

On the other hand, CNF earlier noted that Band Protocol has included push-based oracles into Sonic Labs, improving the dependability of real-time data for decentralized apps (dApps), including DeFi and Automated Market Makers (AMMs).

Whereas pull-based oracles are best for situations needing intermittent data, such as prediction markets and gaming dApps, push-based oracles are particularly suited for continuous data updates.

This adaptability in Oracle forms guarantees that various dApp requirements are satisfied efficiently, therefore offering a customized approach to data management inside the Sonic ecosystem.

Our prior reports have also highlighted the advantages of The Sonic Gateway, which provides trustless, safe Ethereum-Sonic transactions. This function removes custody risks so consumers may keep total control over their assets during the transfer procedure.

Such developments help to establish user confidence and underline Sonic’s will to provide a flawless and safe experience for digital asset transfers.

Meanwhile, Sonic’s native token, FTM, which is slated to switch to a new ticker “S,” is trading around $0.7357 at the time of writing, up 6.72% over the last week.