Nasdaq Verafin and Stablecore have formed a partnership designed to help banks and credit unions detect financial crime across both traditional fiat transactions and digital asset activity.
The integration brings digital asset transaction information from Stablecore directly into Nasdaq Verafin’s anti-financial crime platform, giving financial institutions a consolidated view of customer activity as they introduce products involving stablecoins, tokenized deposits, and other digital assets.
Stablecore provides infrastructure that allows banks and credit unions to offer digital asset services through their existing systems.
Nasdaq Verafin provides financial crime management technology used by financial institutions for areas including anti-money laundering, fraud detection, investigations and compliance.
By connecting the two platforms, the companies aim to address a visibility gap that can emerge when suspicious financial activity moves between conventional banking channels and blockchain-based networks.
Historically, banks have had significantly more visibility into transactions taking place through traditional accounts and payment systems than activity occurring on-chain.
That can create challenges when criminals move funds between fiat currencies and digital assets in an attempt to obscure the origin, destination or ownership of funds.
Under the partnership, fiat-to-digital asset and digital asset-to-fiat transaction flows from Stablecore can be combined with existing customer information and compliance data inside Nasdaq Verafin.
Stablecore maintains digital asset holdings and transaction information without storing personally identifiable information.
The customer’s bank or credit union continues to maintain identity and account information through its core banking system.
Information from both environments then flows into Nasdaq Verafin, where it can be consolidated into a single customer profile for investigation and risk assessment.
That approach is intended to allow compliance teams to follow the movement of money across conventional and blockchain-based channels rather than investigating each environment separately.
For example, if a customer moves funds from a traditional bank account into a stablecoin and subsequently transfers those assets elsewhere, investigators could potentially analyze the complete transaction sequence from within the same financial crime management environment.
The partnership comes as financial institutions increasingly consider adding stablecoins, tokenized deposits and other blockchain-based products.
The global digital asset market currently represents approximately $2.4 trillion in value, more than twice the range observed during late 2022 and early 2023.
As digital asset adoption expands, banks and credit unions are under pressure to provide customers with newer payment and asset-transfer capabilities while maintaining anti-money laundering, sanctions and fraud controls comparable to those applied to traditional banking products.
Nasdaq Verafin and Stablecore are positioning their integration around that requirement.
Stablecore provides the infrastructure needed to offer digital asset products, while Nasdaq Verafin provides the compliance layer through which financial institutions can monitor activity.
The combined platform could also help compliance investigators work more efficiently by eliminating some of the manual steps required to piece together activity occurring across multiple systems.
Instead of separately examining a customer’s traditional account information and blockchain activity, teams could access a consolidated profile showing both.
The integration is currently operating in beta with selected customers, including Amarillo National Bank.
Nasdaq Verafin and Stablecore plan to roll out the integration to mutual customers during the fourth quarter of 2026 and first quarter of 2027.
The companies are also planning an additional capability focused on real-time sanctions screening.
That functionality will allow financial institutions to screen counterparties receiving digital asset transfers through Nasdaq Verafin’s existing sanctions screening infrastructure.
The objective is to help banks build Bank Secrecy Act and anti-money laundering programs capable of addressing risks associated with digital asset transfers without requiring a completely separate compliance environment.
For Stablecore, integration with Nasdaq Verafin could make its digital asset infrastructure more practical for regulated financial institutions that may otherwise be hesitant to introduce blockchain-based products because of compliance complexity.
For Nasdaq Verafin, the relationship extends its financial crime monitoring capabilities into an area of financial activity that is becoming increasingly connected with traditional banking.
As money moves more frequently between bank accounts, stablecoins, tokenized deposits and other digital assets, the companies expect financial institutions to require a unified view of those transactions.
The partnership is therefore designed around treating digital asset activity as another component of a customer’s broader financial profile rather than as a separate financial system.
KEY QUOTES:
“Criminals increasingly move between on-chain and off-chain channels to obscure their activity and avoid detection. By integrating Stablecore’s digital asset infrastructure with Nasdaq Verafin’s holistic financial crime management technology platform, we are giving financial institutions visibility into the full scope of their customers’ transactions, so that criminals cannot hide no matter where they move money.”
Rob Norris, SVP and Head of Product Strategy at Nasdaq Verafin
“Digital assets become viable within banking when financial institutions can have the same very high standards around compliance and fraud detection as their existing products. Through this partnership, Stablecore provides the infrastructure for secure digital asset services while Nasdaq Verafin ensures that activity is monitored with the same rigor as traditional payments – a significant evolution in making digital assets a safe and secure option for banks, credit unions and their customers.”
Alex Treece, Co-Founder and CEO of Stablecore
“Our customers want access to emerging payment methods, and we need to meet that demand without compromising safety. This partnership ensures our team maintains full visibility across traditional and digital assets activity, while allowing our team to seamlessly incorporate on-chain data into our investigations.”
William Ware, President of Amarillo National Bank
