The fund is rose by Chainalysis in Serious B funding. Chainalysis is actually cryptocurrency transaction analysis startup. With this fund the startup is intent to open R @ D lab in a bid to expand its existence in the U.K. and also to open a new office in London. Though there is prolonged bear market in cryptocurrency still investors and sinking money in this industry. Seasoned VC firm lead over the round where there was an additional investment by Benchmark which was around $16m series A last April. The speculation shows a proceeding with craving to make a long haul wager on the establishment of the raising crypto world according to CEO and co-founder of Chanalysis Michael Gronager.
Chainalysis presently utilizes more than 100 employees and has workplace in New York, Washington and Copenhagen. The U.K.s pending takeoff from the European Union –Gronager featured the significance of London as a main fintech club. Chinalysis will likewise investigate look into organizations and joint efforts with universities in London through their new office. They haven’t yet picked a side there whether the meant University College London(UCL) or Imperial College. So they are working with everyone. There is a great fascinations among mid-tier and top tier banks to collaborate with crypto companies. Large banks out of U.K. are willing to enter banking relationships with crypto exchanges indeed.
KYT is a real-time AML software launched last year. To keep pace with the change in crypto world Chainlaysis expanded their areas to bitcoin, ether and litecoin. Stablecoin is not as problematic as ICO. But there is confusion about proper regulatory oversight. Chainalysis is incorporating all stablecoins gradually. It is expected that this will generate a lighter touch about regulating these. This people will be able to use these for transferring funds across the world.