Chainalysis secures $170 M in its sixth funding round led by GIC

Chainalysis, a blockchain data platform based in New York, announced that it had raised $170 million in new funding, increasing its total valuation to $8.6 billion.

GIC, Singapore’s sovereign wealth fund, led the investment round, which was the company’s sixth since its inception. Blackstone, Bank of New York Mellon, and venture capital firm Accel were among the previous investors.

“There is a whole transformation happening where the world of finance’s operating systems are moving to crypto. Our company will have a big opportunity in this market. We are growing in regions such as Europe and Asia-Pacific. So far up until now, we had basically no presence in South America, so that is another growth area for us. Clearly, we’re investing in international expansions,”

Michael Gronager, co-founder and CEO of Chainalysis

While government agencies have long recognised the value of blockchain data and analysis, demand for risk management and business intelligence products from exchanges, decentralised finance platforms, and financial institutions entering the cryptocurrency space has reached new highs in the past year, according to Chainalysis.

The growing popularity of cryptocurrency has prompted increased regulatory scrutiny, increasing demand for Chainalysis services from institutional clients.

Previous News Post
Next News Post
Most Popular