Nasdaq Verafin Partners with Stablecore to Monitor Fiat and Digital Asset Transactions

Nasdaq's financial crime detection platform, Verafin, is collaborating with digital asset infrastructure company Stablecore to establish a system for monitoring fiat and digital asset transactions. Stablecore is currently integrating with Nasdaq Verafin and is also working with Chainalysis and TRM Labs. The goal of this collaboration is to reduce the information gap between traditional financial transactions and stablecoin transactions. Verafin provides fraud detection, anti-money laundering (AML), and sanctions screening capabilities, allowing financial institutions to analyze transaction types and counterpart information together. Verafin's consortium network connects over 2,800 financial institutions and 850 million counterparty information, analyzing approximately 1.8 billion transactions weekly. Stablecore is an infrastructure company that supports banks and credit unions in offering stablecoin and digital asset accounts. This collaboration reflects the trend of integrating digital asset service adoption and transaction monitoring. However, specific details regarding transaction data provision or the commercialization schedule of the integration features have not been disclosed.

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