Nasdaq Verafin has partnered with Stablecore to provide banks and credit unions with a unified view of financial crime risk across traditional payments and stablecoin transactions. Nasdaq acquired Verafin in 2020 for $2.75 billion, and the platform now serves over 2,800 financial institutions, processing approximately 1.8 billion transactions weekly and covering roughly 850 million counterparties. Stablecore raised $20 million in funding led by Norwest, with participation from Coinbase Ventures, and works with banking platforms like Q2 and Jack Henry. Verafin’s consortium model manages approximately $12 to $13 trillion in assets, and this collaboration aims to address a gap where banks are moving into digital assets while their compliance tools remain built for traditional payment systems.
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