Chainalysis, one of the prominent blockchain analytics firm is looking for new partners to expand its reach in the decentralized space. The firm has launched a major partnership program in order to expand its operational base and also enhance its intelligence capabilities.
Chainalysis has made a name for itself through its various investigating and monitoring tools which have been utilized by government agencies and private firms alike. Chainalysis tools are majorly used to monitor the movement of funds and transaction to trace whether the transaction is being done for illicit activities.
In the recent past, Chainalysis has partnered with major crypto exchanges and blockchain firms, especially after major countries, have taken a stricter regulatory stance. The firm has also published several important research pieces be it the movement of stolen funds from major crypto exchanges or movement of funds from scam associated wallets.
The Goal Behind Recently Announced Partnership Program
Jason Bonds, the chief revenue officer at Chainalysis explained that the new program is aimed at several categories of collaboration with different types of firms and institutions. The key areas of focus would include collaboration with compliance firms with whom their investigative tools can be easily integrated. These firms would cover the base expanding the use of Chainalysis tools.
The second major focus would be on the distribution partners which include several existing markets where Chainalysis is active and also newer domains to expand the reach. Bond also identified two key distributors in the form of Carahsoft, an IT service provider who is working with the federal as well as state institutions in the US, and M.Tech, a Singapore-based cybersecurity firm currently active in the Asia Pacific region.
Rayson Lim, the chief financial officer at M.Tech noted the importance of such partnership programs and how the demand for such blockchain monitoring tools. He said,
“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.”
The third key factor for Chainalysis would be to expand its own intelligence capabilities and refine their data to ensure better results. In order to do that, they are looking to collaborate with data providers in the area of ransomware which has been the biggest nuisance in the decentralized space.
Chainalysis promises to reveal every detail of the partnership program and plans to create a partner directory which would be publicly available to make sure every aspect of its program is transparent.