In January 2023 zkBob announced an integration with TRM Labs to deliver compliant privacy solutions to mainstream blockchain users. This announcement was originally posted here.
zkBob, a leading blockchain application for stable, private transfers, has implemented a screening solution from TRM Labs, the leader in blockchain intelligence solutions, to provide a more secure and compliant environment designed for private value transfer. zkBob will leverage TRM Labs’ suite of AML compliance and screening tools to prevent stolen, hacked, or otherwise risky funds from entering the zkBob privacy pool, protecting all users
“Zk (zero-knowledge) protocols are changing what is possible for blockchains by introducing advanced scalability and privacy features,” said Igor Barinov, principal researcher with zkBob. “Privacy is essential for regular use cases like salary payments, remittances, fundraising, and donations. This integration with TRM labs enables everyday privacy for zkBob users while deterring bad actors and illicit funding sources.”
To satisfy regulatory requirements and promote AML/CFT compliance, zkBob will leverage TRM’s tools to conduct wallet screening and pre-deposit transaction monitoring to protect the integrity of the zkBob private pool and promote a safe and secure platform for private transfers.
“TRM Labs is committed to building innovative trust and safety products that ultimately support the growth of the crypto economy,” said Esteban Castaño, co-founder and CEO of TRM Labs. “Having zkBob integrate our suite of AML compliance tools furthers our goal of building a safer financial system for all crypto users.”**
zkBob is a privacy application deployed on the Polygon blockchain that anonymizes stable transfers between users. The protocol uses zkSnarks to prove certain actions have occurred without revealing specific details about participants or amounts transferred. zkBob leverages the BOB stablecoin, an innovative multi-collateral, multi-chain asset for private and predictable transfers. Advanced compliance features deter illicit usage while promoting lawful use cases such as salary distribution and anonymous donations. zkBob gives privacy back to the everyday user.