- Chainalysis, on September 29, announced its expansion in the Asia Pacific region
- Between June 2019 and July 2020, the region accounted for 31% of the worldwide crypto-transaction
- Jason Bonds, Chief Revenue Officer of Chainalysis, commented on the news that the current market is the best time for the company to expand
Chainalysis, on September 29, announced its expansion in the Asia Pacific region. With its expansion, new offices in Tokyo and Singapore will be doubling Chainalysis’s workforce. Chainalysis is a blockchain analysis company serving around the world in financial institutes, cryptocurrency businesses, and various governments. They provide data software, expertise for the sophisticated crypto-crimes, money laundering cases, and so on.
Reason for the expansion
According to the Geography of the Cryptocurrency Report, 2020 by the Chianalysis discovered East Asia as the largest cryptocurrency market. Between June 2019 and July 2020, the region accounted for 31% of the worldwide crypto-transactions. Chainalysis in the region is already serving sixty private and public sector companies of Asia Pacific Accreditation Cooperation (APAC), the holding structure of giants like BitMEX, Crypto.com, Algorand, and the 100x groups.
The new offices will provide a base for expansion in the APAC region. Apart from expansion in the APAC, $13 million worth funding in Series B round from Rabbit Capital and Sound Ventures made the total financing $49 million.
Jason Bonds, Chief Revenue Officer of Chainalysis, commented on the news that the current market is the best time for the company to expand. Backing his statement, he continued that stablecoin demand is skyrocketing, and the APAC region is forming a regulatory structure for cryptocurrencies. Bonds further said that the above reasons should be strong enough for any business or financial institutes to enter the market, adopting compliance solutions as regulatory and law bodies are also focusing on the new emerging asset class.
Another spokesperson from Chainalysis, Ulisse Dell’Orto, who is the Head of Business Development, commented that with the emergence of cryptocurrencies and the increase of its adoption, compliance solutions become an essential part of legitimacy establishment and building of trust in the ecosystem. He said since Chainalysis has already been serving in the APAC, this new venture will boost the company’s investigation solution and training programs.
Chainanlysis Training Program and Professional Services
Chainalysis, apart from its professional services, also provides a training and certification program. This program serves with certifications for investigators, compliance officers, analysts, regulators. At the same time, the Professional Services of the company include expert insights, advanced blockchain forensics, and so on.