New York-based blockchain analytics firm Chainalysis is launching a major partnership program to expand its operations and broaden its intelligence capabilities.
As one of the highest-profile analytics firms in the blockchain intelligence industry, Chainalysis develops investigative tools that enable firms, governments and law enforcement agencies to monitor blockchain transactions and track suspected illicit activities.
Speaking to Cointelegraph on April 9, Chainalysis chief revenue officer Jason Bonds explained that the program would be dedicated to collaborations with several categories of partners.
The first, key crypto infrastructure providers, will help Chainalysis and the wider industry to “broaden cryptocurrency transaction monitoring via simpler integrations.” The firm will seek to partner with firms specializing in compliance in order to integrate their offerings for clients.
Second, Chainalysis is seeking new distribution partners in several of its existing markets as well as further afield. Bonds identified two such partners — Carahsoft, an IT provider working with federal and state institutions in the United States, and Singapore-based cybersecurity firm M.Tech in the Asia Pacific (APAC) region.
The partnership program, Bonds said, “is global and we already have partners in the Americas, EMEA, and APAC.”
Third, Chainalysis will look to broaden its own intelligence capabilities by partnering with data providers. These could include specialists in ransomware, bolstering Chainalysis’ labeling of suspect 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. Our partnership with a top tier company like Chainalysis will help fill this demand.”
Further information on the program, including a partner directory, will be made publicly available in the coming weeks.
Alongside its work on blockchain intelligence, Chainalysis conducts regular research into the crypto sector. Most recently, the firm published the results of its analysis of changing Bitcoin (BTC) consumer habits during the COVID-19 pandemic and global economic downturn.
In a webinar last month, Chainalysis shared data revealing that only 1.1% of over $1 trillion in cryptocurrency transactions in 2019 were found to be illicit.