Nasdaq Verafin partners with Stablecore to enhance financial crime detection across fiat and digital assets

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 every week. Verafin’s platform spans fraud detection, AML compliance, combatting the financing of terrorism, sanctions screening, and consortium-level analytics. Stablecore raised $20 million in funding led by Norwest, with participation from Coinbase Ventures among others. It works with banking platforms like Q2 and Jack Henry to help f...