Image: AFP

Chainalysis is opening new offices in Tokyo and Singapore that will serve as hubs for sales, professional investigative services, and training, the blockchain analysis company announced on Twitter. 

Chainalysis serves as a strategic partner to financial institutions, governments, and cryptocurrency businesses around the world, providing data, software, and expertise on sophisticated cryptocurrency crime and money laundering tactics, techniques, and procedures.

In its recent Geography of Cryptocurrency Report, Chainalysis found that East Asia is the world’s largest cryptocurrency market, accounting for 31% of all cryptocurrency transacted between June 2019 and July 2020. 

Chainalysis already works with over 60 private and public sector customers in the Asia-Pacific region, including 100x Group, the holding structure for BitMEX; Crypto.com; and Algorand. The company will use the new offices as headquarters for further regional expansion.

“Investing in our services across the Asia-Pacific could not happen at a better time,” said Jason Bonds, chief revenue officer of Chainalysis. “Cryptocurrency adoption – stablecoins in particular – is skyrocketing, and regulations are rolling out across the region. Now is the time for cryptocurrency businesses and financial institutions to adopt compliance solutions as regulators and law enforcement focus on this emerging asset class.”

Ulisse Dell’Orto, managing director of the firm’s Asia-Pacific operations, said, “As cryptocurrency use continues to increase, investigation and compliance solutions are crucial to building trust and establishing legitimacy.

“Chainalysis has already had boots on the ground in APAC for some time, and these offices will help us build even closer ties with the cryptocurrency ecosystem here and meet the growing demand for our investigative solutions and training programs.”

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