Japan's biggest bank invests in crypto sleuthing startup Chainalysis

posted 4 months ago
Japan’s largest bank, Mitsubishi Financial Group, backed an additional $6 million Series B round for cryptocurrency sleuthing startup Chainalysis. The round also saw participation from Tokyo-based investment firm Sozo Ventures. The additional funding means Chainalysis’ total for its Series B round now sits at $36 million. Chainalysis said it aims to expand its Asia-Pacific business and open a new office to assist that effort.

The startup claims to have more than doubled client numbers and increased contracted revenue by “more than 16x” last year. “Chainalysis plans to build on this momentum with a physical presence and deeper engagements with entities including Sozo and MUFG, who will provide critical market insights,” the firm said. MUFG CEO and president Nobutake Suzuki said “Chainalysis’s compliance technology is important to providing the insight and anti-money laundering controls banks need in order to establish next generation compliance frameworks.”
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