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The blockchain data platform has opened a new office in Australia, in a bid to bolster the availability of its offering in the region.
Chainalysis has established a new office in Canberra to support the distribution of its offering to the cryptocurrency market, public sector agencies and financial institutions in the Pacific.
This comes amid a rise in demand for the company’s security services in the region, with its 2021 Geography of Cryptocurrency Report, finding that Central and Southern Asia and Oceania (CSAO) is the fourth largest cryptocurrency market, accounting for 14 per cent of all cryptocurrency value transacted between July 2020 and June 2021.
According to the report, CSAO’s transaction activity grew by 706 per cent (value terms) year-on-year, with Australia ranking 38th in global cryptocurrency adoption.
Chainalysis recently partnered with Australian cryptocurrency businesses, including payments providers and cryptocurrency exchanges.
“From working with Chainalysis, we have the confidence that our business is compliant with local regulations, enabling us to continue to build and maintain client trust,” Caroline Bowler, CEO of BTC Markets said.
“With the official opening of the Canberra presence, I’m excited to see how we can work even closer together with the Chainalysis team to allow Australia to fully embrace cryptocurrency and reap the benefits.”
Todd Lenfield, country manager for ANZ at Chainalysis said the Pacific region would become a centre for cryptocurrency innovation.
“Our increased investment in the region will ensure businesses and governments can explore digital asset ecosystems in a safe, compliant manner,” Lenfield said.
Ulisse Dell'Orto, managing director of APAC at Chainalysis, added: “Chainalysis’ data platform will strengthen the trust necessary to further legitimise cryptocurrency as an everyday asset for retail and institutional investors alike.
“We’re working tirelessly to facilitate compliance and investigation efforts among businesses and law enforcement. Our entire team is excited to see the positive impact of our work.”
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