On April 9, 2020, New York-based blockchain analytics firm Chainalysis announced that it is launching a major partnership program to work with key infrastructure providers to broaden cryptocurrency transaction monitoring.
By working with distribution partners in emerging global markets, Chainalysis hopes to bolster its intelligence on the genuine and illicit services that use crypto to transact.
Chainalysis is developing investigative tools that enable businesses, governments, and law enforcement agencies to screen blockchain transactions and monitor suspected illegal undertakings.
The chief revenue officer at Chainalysis, Jason Bonds, explained that the program would be dedicated to collaborations with several categories of partners. Firstly, the intelligence firm will look to partner with key crypto infrastructure providers, which would help Chainalysis to widen crypto transaction monitoring through simpler integrations.
Secondly, Chainalysis is in search of new distribution partners in several of its existing markets as well as further afield. Bonds revealed that his firm is particularly interested in working with Carahsoft, an IT provider working with federal and state institutions in the U.S, as well as Singapore-based cybersecurity startup M.Tech.
The Crypto Platform Plans to Broaden its Intelligence Capabilities
In addition to the goals mentioned above, Chainalysis will also look to broaden its own intelligence capabilities by partnering with data providers, especially specialists in ransomware, who can bolster Chainalysis’ cataloging of suspicious addresses.
M.Tech’s chief financial officer Rayson Lim stated:
“In the APAC marketplace, we are noticing increased demand from law enforcement for cryptocurrency investigative software.”
He remarked that the partnership with a top tier company like Chainalysis would help fill this demand.
Bond echoed Rayson Lim’s remarks by explaining that the new partnership program will amplify the ability of the platform to provide the investigative and compliance tech required by the crypto ecosystem to comprehend blockchain activity better.
Chainalysis Identifying Trends In Crypto
In addition to its work on blockchain intelligence, Chainalysis has also been actively carrying out impressive research into the crypto sphere.
Recently, the blockchain firm published a report on March 30, analyzing the changing Bitcoin (BTC) consumer habits during the COVID-19 pandemic and the global economic downturn. Chainalysis reported that the trend shows resilience among BTC merchant services in the current economic crisis.
Furthermore, in a webinar report released recently, Chainalysis shared data that shows that only 1.1% of the over $1 trillion transactions in 2019 were found to be illicit.