Chainalysis, the leading blockchain analytics firm, is opening its first Australian office in Canberra, coinciding with the news it has partnered with the Commonwealth Bank on its plans to offer crypto trading to 6.5 million app users.
It has been reported that Chainalysis, which was valued at $4.2 billion at its Series E funding round in June, is a blockchain data research platform founded by Jonathan Levin and Michael Gronager in 2014. According to the company’s 2021 Geography of Cryptocurrency report, Southern Asia and Oceania are the fourth-largest crypto market in the world, accounting for $572.5 billion or 14% of all cryptocurrency value transacted between July 2020 and June 2021.
However, according to the report, the transaction activity in Oceania and Central and Southern Asia increased by 706% during the same period.
Todd Lenfield, the Manager of Chainalysis Australia and New Zealand, said:
“The Pacific region is quickly becoming a center for cryptocurrency innovation. Our increased investment in the region will ensure businesses and governments can explore digital asset ecosystems in a safe, compliant manner.”
Thus, Ulisse Dell’Orto, Chainalysis’s Managing Director for the Asia-Pacific region, said:
“Chainalysis’s data platform will strengthen the trust necessary to further legitimize cryptocurrency as an everyday asset for retail and institutional investors alike.”