With another $6 million raised, Chainalysis has completed its $36 million Series B round started in February 2019. The money will reportedly be used to expand its current compliance technology into Asia Pacific market, specifically to partner with banks and other financial companies.
Mitsubishi UFJ Financial Group (MUFG) and Blockchain venture capital firm Sozo Ventures are the 2 strategic investors behind Chainalysis’ newly secured fund.
According to MUFG Innovation Partners president and CEO Nobutake Suzuki, Chainalysis’s compliance technology is able to provide valuable insights, as well as anti-money laundering (AML) protocols, which would greatly help banks in the process of establishing next-generation compliance frameworks.
“Today’s announcement signals our joint commitment to growing the cryptocurrency industry in Japan and the Asia Pacific more soundly and broadly.” Suzuki further stated.
Chainalysis’ contracted income has recently been on the rise, with value increasing 16 times compared to last year. Japan has also been working on turning the country into an ever-growing, crypto-friendly ecosystem, with new rules and laws approved by regulators. Along with that, the country also provided legal licenses for a number of exchanges starting this month, all to attract crypto-related organizations and individuals worldwide.