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Nasdaq Verafin partners with Stablecore to enhance financial crime detection across fiat and digital assets
The collaboration aims to give banks and credit unions a unified view of financial crime risk spanning traditional payments and stablecoin transactions.
Nasdaq’s financial crime detection arm, Verafin, is teaming up with Stablecore to bridge a gap that’s been quietly widening across the banking industry: the divide between monitoring traditional transactions and keeping tabs on digital asset activity.
The partnership combines Verafin’s established fraud detection and anti-money laundering platform, which already serves over 2,800 financial institutions, with Stablecore’s infrastructure for enabling stablecoins and tokenized deposit products within regulated banking environments.
What each side brings to the table
Nasdaq acquired Verafin back in 2020 for $2.75 billion, and it has since grown into one of the largest cloud-based financial crime detection platforms in the industry. Its consortium data network covers roughly 850 million counterparties and processes approximately 1.8 billion transactions e...