Blockchain data analytics company Chainalysis raises $170m in Series F funding. Buoyed by regulatory developments, the company now has a valuation of nearly $8.6 billion.
Chainalysis raises $170 million in Series F funding
The blockchain data analytics company Chainalysis has just raised $170 million to reach a valuation of nearly $8.6 billion.
This Series F funding round was led by GIC, a Singapore-based sovereign wealth fund, and comes less than a year after its last fundraising.
It comes less than a year after the company raised nearly $100 million from its historical investors. These include Accel, Benchmark and Durable Capital Partners.
With this new round of funding, the company intends to accelerate its growth by continuing to improve its products and services focused on compliance and blockchain analysis. In this sense, the company stated last June:
“We believe that blockchain data are assets that can help public and private sector organisations understand the risks and opportunities surrounding this asset class and promote its safe and successful adoption. “
New tools for blockchain analysis
Compliance services are increasingly in demand as regulation evolves.
Indeed, the arrival of institutional players in the cryptocurrency space is often seen as a milestone for the development of the ecosystem.
For example, earlier this year, the company launched two new tools to filter out cryptocurrency wallet addresses that are subject to sanctions.
These include an on-chain oracle and a public API. At the time of the product’s launch, the company added in its release that:
The inherent transparency of the blockchain can make cryptocurrencies a powerful deterrent to penalty evasion. Compliance professionals with the right data and technology are effective in identifying transactions by sanctioned entities and taking action. “
There is no doubt that compliance remains an important topic in the cryptocurrency ecosystem. Indeed, regulation may be where the growth and success of this industry will come from.
