Blockchain-focused analytical service Chainalysis has reported it had raised $100 million at over $1 billion valuation in a Series C round led by Accel, Benchmark, and Ribbit.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
With the new funds, the company plans to expand its regulatory platform on a global level "for the surging cryptocurrency market." Chainalysis claims newer use cases around savings accounts, lending, and more are rapidly emerging on Ethereum and leveraging stablecoins.
"Social and payments networks are developing their own offerings to open new markets and better serve their customers. And every major country in the world is exploring ways to leverage this technology to modernize their financial infrastructure," the company said.
The company will reportedly further enhance its products to analyze emerging DeFi protocols and new blockchain networks.
Chainalysis is known as one of the crypto-related players tightly coordinated with watchdogs to track illicit activity on blockchain networks. Earlier in November, the company even launched a new program in a partnership with Asset Reality focused on helping government agencies to handle, store, realize, and monitor seized assets.
Chainalysis says that law enforcement are in need for a custodian where seized digital currencies could be stored until they are legally forfeited.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.