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MUFG joins Series B round in Chainalysis

MUFG joins Series B round in Chainalysis

Cryptocurrency compliance outfit Chainalysis has raised an additional $6M to close its $36M Series B round with an investment from Japan’s largest financial institution, MUFG, as well as Tokyo-headquartered VC Sozo Ventures.

With the funding, which follows a $30M raise from Accel and Benchmark in February, Chainalysis plans to expand its business in Asia Pacific and open a local office to serve clients.

The firm says it has more than doubled the number of clients it services in Apac in the past year and grown contract revenue by more than 16x.

“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,” says Nobutake Suzuki, president & CEO, MUFG Innovation Partners. “Today’s announcement signals our joint commitment to growing the cryptocurrency industry in Japan and Asia Pacific more soundly and broadly.”

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