Blockchain startup Chainalysis to open London office

Keiligh Baker's picture

Crypto compliance startup Chainalysis has raised £23.3m from venture capital giant Accel to open an office in London.

Chainalysis leverages deep analytics and machine learning to help law enforcement agencies track illicit crypto transactions and financial institutions comply with anti-money laundering rules

A spokesman said: "Although we’ve had feet on the ground in London for a while, we are excited to officially open an office there. As our second European office following Copenhagen, London will act as our hub for European business as well as anchoring our research.

"We will look to double our headcount there, tapping into London’s deep talent pool. The city is optimal for its proximity to top universities that increasingly recognize cryptocurrency as a technology poised to reshape the way people exchange value across the world.

"The office will position us to work with the major financial institutions and cryptocurrency businesses based in that market, as well as European governments. It’s also convenient that our newest board member, Accel’s Philippe Botteri, is based in London!"

"As the use of cryptocurrencies matures across the world, each region is facing distinct challenges that require local expertise to accelerate adoption," said Philip Gradwell, chief economist at Chainalysis.

"London is the optimal location for Chainalysis to invest in sales and R&D to provide that guidance and tap into top universities that increasingly recognise cryptocurrency as a technology poised to reshape the way people exchange value across the world."

The startup also has offices in New York, Washington DC and Copenhagen.