Blockchain analytics startup Chainalysis, announced a $170 million Series F funding round led by Singapore sovereign wealth fund GIC. That brings the startup’s cumulative funding to more than $520 million. The investment valued Chainalysis at $8.6 billion and included BNY Mellon and Emergence Capital as new investors alongside existing investors Accel, Blackstone, Dragoneer, and FundersClub, who upped their commitment.
In February, BNY Mellon was the first systemic bank to adopt the Chainlaysis offering, which helps with compliance by analyzing the parties involved in cryptocurrency transactions and identifying risky patterns, amongst other solutions. More than 100 financial institutions now use its offerings, although the crypto definition of institutions is broad. That said, other high profile clients include Robinhood and Australia’s Commonwealth Bank.
Chainalysis screens an average of $1 trillion in transactions monthly.
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