Leading blockchain analytics firm Chainalysis has opened its first Australian office in Canberra, coinciding with the news that it has partnered with the Commonwealth Bank to offer cryptocurrency trading to the app’s 6.5 million users.
Chainalysis, which received $4.2 billion in a Series E funding round in June, is a blockchain data mining platform founded by Jonathan Levine and Michael Groniger in 2014.
According to the Geography of Cryptocurrency 2021 report, South Asia and Oceania is the fourth largest cryptocurrency market in the world, accounting for $572.5 billion between July 2020 and June 2021, or 14% of all crypto-worthy transactions.
According to the report, transaction activity in Oceania, Central and South Asia increased by 706% over the same period.
“The Pacific is rapidly becoming a hub for crypto innovation,” said Todd Linfield, CEO of Chainalysis Australia and New Zealand. “Our increased investment in the region will ensure that businesses and governments can explore digital asset ecosystems in a secure and interoperable manner.”
Ulysses del Orto, CEO of Asia Pacific, added:
“The Chainalysis data platform will build the confidence needed to further legitimize cryptocurrency as an everyday resource for both private and institutional investors.”
Related: Sequential Analysis Will Add Bitcoin To Its Balance As Price Rise
The news comes after Chainalysis announced a partnership with Australian cryptocurrency firms CoinSpot and CoinJar last August.