Top blockchain forensics firm Chainalysis is set to open its very first Australian office in Canberra. The news is following after the firm announced its partnership with the Commonwealth Bank, as part of its efforts to offer to allow nearly 6.5 million app users to trade crypto.
Having been co-founded by Jonathan Levin and Michael Gronager in 2014, Chainalysis became valued at $4.2 billion during its Series E funding round back in June.
Meanwhile, the blockchain research platform recently did a study it dubbed “2021 Geography of Cryptocurrency”. According to the company’s report, Southern Asia and Oceania accounts for the fourth-largest crypto market in the world, having roughly $572.5 billion of all cryptocurrency value. That’s a whopping 14% of all crypto transacted between July 2020 and June 2021.
The report also shows that the Oceania and Central and Southern Asia saw a 706% increase transaction activity, even in the same period.
Speaking about the new development, the Australia and New Zealand manager for Chainalysis, Todd Penfield said that the Pacific region is fast becoming a hub for cryptocurrency innovation. He then went ahead to explain how the company’s increased investment in the region will make certain, that businesses and governments can have a safe space to explore digital asset ecosystems in a safe while remaining compliant.
The company’s managing director for the APAC region, Ulisse Dellorto also shared his beliefs that Chainalysis’ data platform will do well to establish the trust needed to really legitimize cryptocurrency as a safe investment in the eyes of retail and institutional investors alike.
The news follows after Chainalysis revealed that it has partnered with leading Australian cryptocurrency businesses CoinSpot and CoinJar in August of last year.
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