Interesting developments have taken place in the crypto compliance space. A fintech company called Spectrum has just completed a $20 million Series A funding round. This is a significant amount for a startup of this kind.

NEA led this round, with well-known investors like Northzone and Seedcamp also participating. PSV Tech also took part. Total funding has now reached $26 million.

What does Spectrum do? Primarily an AI-based compliance solution. It works for Phantom and other crypto wallet services, as well as serving traditional finance companies. It covers everything from risk assessment to sanctions list monitoring.

This shows how large the compliance market has become. As the crypto space matures, regulatory requirements are also increasing. Teams like this are needed across all platforms. The $20 million funding reflects the high level of investor confidence in this sector.