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Chainalysis Raises $100 Million at $4.2 Billion Valuation

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As outlined by Chainalysis, the latest cash injection will be used to deepen its data advantage by covering more cryptocurrencies, and focusing on emerging niches including decentralized finance (DeFi). 

Blockchain analysis company Chainalysis has announced the completion of its Series E funding round in which it secured an additional $100 million from investors. According to the official announcement Chainalysis, the Series E funding round was led by Coatue and brings the company’s total valuation to $4.2 billion.

As revealed, previous backers including Benchmark, Accel, Addition, Dragoneer, Durable Capital Partners, and 9Yards Capital added to their stake in the company. Accordingly, the funding round also saw participation from other investors including Altimeter, Blackstone Group Inc (NYSE: BX), GIC, Pictet, Sequoia Heritage, and SVB Capital.

The use of blockchain technology and its attendant innovations particularly cryptocurrencies is growing. While there has always been a sustained retail adoption of the emerging monetary innovation, institutions are beginning to show interest in the growing asset class. However, the rate of adoption is marred by the lack of transparency in using Bitcoin (BTC), and other altcoins, as well as the potential risks of being used for illicit transactions. These fears are compounded by regulators, who often warn against the integration of this tech.

Chainalysis is building the technology to allay the fears of usage of crypto on the part of investors, and to aid regulators to track illicit transactions accordingly. The company is building compliance software that enable government agencies and private sector businesses across the world to detect and prevent cryptocurrency crime and money laundering. The invaluable nature of Chainalysis’s product has drawn in over 300 clients, spanning both government, businesses, and general crypto users.

“Chainalysis’s data platform is core infrastructure which helps to create a safe and thriving cryptocurrency market,” said Kris Fredrickson, Managing Partner at Coatue. “As cryptocurrency adoption grows, we believe that financial institutions, government agencies, and cryptocurrency businesses will increasingly deploy Chainalysis’s platform to make important decisions – from figuring out the best way to dismantle the operations of a threat actor to deciding which new cryptocurrency products are likely to drive the most demand.”

Chainalysis to Build Out and Focus on Its Expansion Following the Funding Round

As outlined by the company, the latest cash injection will be used to deepen its data advantage by covering more cryptocurrencies, and focusing on emerging niches including decentralized finance (DeFi).

Additionally, it noted the readiness to develop collaboration tools in its suite of software solutions so that public and private sector teams can work together from the same data set with a consistent, shared understanding. The firm is also seeking to provide direct access to Chainalysis data through APIs so that government agencies, financial institutions, and cryptocurrency exchanges can combine Chainalysis data with information from within their enterprises to make better decisions.

Beyond the product development, the company says it will hire hundreds of positions to promote its global expansionary drive. In all, Chainalysis is set to foster the speedy embrace of crypto and blockchain through the provision of data that can help eliminate threats in all forms.

“The future of finance and national security will be based on blockchain data-driven decisions,” said Michael Gronager, Co-founder and CEO, Chainalysis. “We’ve harnessed the transparency of blockchains to provide actionable insights into markets, threats, and business opportunities.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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Blockchain Startups Continue to Thrive, Raise $4.4B in Q2 Despite Crypto Slump

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The recent trend noticed in terms of investment in blockchain technology has affirmed the fact that despite the deterioration registered in the crypto market, it is still deemed as a vital and promising area for investors to float their money in.

Investors have been taking a keen interest in funding blockchain startups helping them raise $4.4 billion despite noticing a sharp decline in generalized crypto prices.

Blockchain technology is the foundational technology for cryptocurrency transactions to operate on. The prices of cryptocurrency however have been susceptible to a gradual decline in recent times, but the amount of funds invested in the technology has highlighted the cryptocurrency trend still quite popular with the masses despite experiencing a slump in pricing and revenue.

Along with blockchain, funding for fintech companies has also detected a surge of investment with approximately $30.8 billion being pooled in the domain.

Blockchain Startups to Gain a Steady Rise 

There is no doubt that the crypto market has been sensitive to market speculation and has gone through a slump that has affected its overall pricing and value. This however did not discourage the investors who have poured heavy investments in the blockchain technology and helped the crypto market sustain harsh market fluctuations and decreased market valuation.

According to the data analysis from CB Insights, there has been a significant increase of 50% worth of investment flow in blockchain technology despite the currency being vulnerable to market oscillations and shifts.

Blockchain is a vital technology that primarily acts as a ledger for all verified cryptocurrency transactions and stores them in a thread constituting information related to the concerned transaction in a form of a secured block. The network of transfers comprises extensive computing channels to conduct currency transmission in a protected manner.

One of the largest financial rounds for blockchain investment valued at $440 billion was made to Circle, which is a payment and digital currency firm specializing in exchanges and transfers. The platform had recently expressed its plan to go public with a merger valued at $4.5 billion.

The recent trend noticed in terms of investment in blockchain technology has affirmed the fact that despite the deterioration registered in the crypto market, it is still deemed as a vital and promising area for investors to float their money in. Since April Bitcoin has recorded an all-time low from its average price of $65000. Ether is the second most popular cryptocurrency after bitcoin was also affected by the market alterations and had fallen by a critical 50%.

Chris Bendtsen, senior analyst at CB Insights has commented in a CNBC interview that with the current rate of investment flowing in the sector, it is very likely that the flow will easily break all previously set records of the cryptocurrency avenue and usher in a new era for cryptocurrency market value and prestige.

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Juhi Mirza is an archaeology major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.



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Ripple-backed Tranglo Working on Something to Stir Up Fintech and Payment Industry

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Founded back in 2008, Tranglo has grown to an international payment processing company with 1,300 payout partners.

Tranglo, Asia’s leading cross-border payment hub, has announced it has a new exciting feature in the pipeline that will transform the payment and the fintech industry. Through a Twitter post, Tranglo noted that the upcoming release will feature XRP. Furthermore, Ripple acquired a 40 percent stake in the company earlier this year.

Tranglo and Its FinTech Activity

Founded back in 2008, Tranglo has grown to an international payment processing company with 1,300 payout partners. According to the company through its website, it has processed over 20 million transactions of about $4 billion.

As with Ripple, Tranglo is working towards making cross-border transactions faster, cheaper, and more secure. Notably, the firm has previously announced that it will power the cross-border payments of OmiPay across its global network.

According to the partnership details, OmiPay will gain access to Tranglo’s vast network of payment capabilities and vice versa.

“This partnership will fast-track OmiPay’s competitiveness and provide our Australian customers with access to new, innovative payment and e-wallet solutions. We also look forward to working with Tranglo on a simple and cost-effective way for international students in Southeast Asia to pay their Australian tuition fees,” OmiPay Head of Partnership William Guo said on Tranglo.

The announcement of an upcoming feature by Tranglo on Twitter has attracted notable XRP community attention. As of reporting time, the announcement tweet has over 3,300 likes and 1,130 retweets.

However, with very limited information to work with, only time can reveal what there is in store for the fintech and payment industry.

The company is already available in 130 countries as of 2019 according to the company. Currently, Ripple is on the verge of losing MoneyGram’s partnership due to the ongoing class-action lawsuit by the US SEC. Moreover, Stellar Foundation has shown interest in acquiring MoneyGram, thus making Ripple’s stake in Tranglo very critical for on-demand success.

In the bigger picture, Ripple is winning the cross-border payment outside the United States.

Tranglo prides itself in partnerships ranging from Alipay, AIS, WeChatPay, BFC Exchange, Brastel among others.

Ripple’s XRP token was trading around $0.597790 at the time of reporting and remains an important integral part of the company’s partnerships.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”





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Goldman Sachs Clearing and Settling Crypto ETPs for European Clients

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The decision by Goldman Sachs to deal with ETPs comes following a recent survey that involved over 150 family offices that the bank does business with.

Goldman Sachs is now settling and clearing crypto-linked Exchange Traded Products (ETPs) for its European hedge fund clients. It has been revealed by sources familiar with the matter.

The bank’s prime brokerage unit is initially only offering the service to an exclusive group of clients, reveal the sources. The bank’s possibility of rolling out the service to a broader client pool is still under review.

ETPs track the performance of investments like stocks, bonds and currencies. Crypto ETPs enable clients to invest in crypto without trading in the cryptocurrency associated with them. As the name suggests, they are traded on an exchange like the better known Exchange Traded Funds (ETFs). They have recently been gaining popularity.

ETC Group, the self-proclaimed “bridge between crypto and regulated markets” introduced the first Bitcoin ETP in the United Kingdom on the Aquis Exchange of London. Other exchanges, such as Switzerland’s SIX Exchange and Germany’s Deutsche Boerse have seen a rising number of crypto ETPs being listed.

The adoption of cryptocurrencies by major financial institutions does not stop there. The Bank of America earlier this week revealed that it would be clearing and settling crypto ETPs for hedge funds. This, after last week’s announcement that they would be trading Bitcoin features for select client’s and had started clearing cash-settled contracts. Also, BNY Mellon announced this week that it was joining State Street and four other banks in backing crypto trading platform Pure Digital.

Global Head of Foreign Exchange at the bank Jason Vitale had this to say:

“Digital assets are only going to become more embedded in global markets in the years ahead, and this collaboration accords with BNY Mellon’s wider strategy to develop a digital asset capability for clients across the entire trade life cycle.”

The decision by Goldman Sachs to deal with ETPs comes following a recent survey that involved over 150 family offices that the bank does business with. According to the survey, 15 percent revealed that they had already invested in crypto. 45 percent of respondents said they would consider investing in crypto as a hedge against “higher inflation, prolonged low rates, and other macroeconomic developments following a year of unprecedented global monetary and fiscal stimulus.”

Meana Flynn, Global Co-Head of Goldman Sachs Private Wealth Management said that a large number of family offices wanted to consult with the bank on ‘blockchain and digital ledger technology’. She revealed that some believed,  from a purely efficiency and productivity point of view, that blockchain technology would be as impactful as the internet has been.

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Mercy Mutanya is a Tech enthusiast, Digital Marketer, Writer and IT Business Management Student.
She enjoys reading, writing, doing crosswords and binge-watching her favourite TV series.



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