The industry’s top blockchain analysis company Chainalysis has announced recently that it is opening two new officers in Tokyo and Singapore in an attempt to expand its presence in the Asia Pacific Region (APAC). This move of the establishment of two more offices across APAC has come as a part of the company’s plans for global expansion.
The company is entirely focused on helping and supporting local cryptocurrency and blockchain firms, financial institutions, as well as some government agencies. This initiative taken by the company is a part of its commitment to these institutions.
As reported by Finance Magnates, the newly-established offices of Chainalysis in Tokyo and Singapore will be serving as hubs for the local companies and institutions offering sales, training, and professional investigative services.
According to Chainalysis’ Geography of Cryptocurrency Report, East Asia is considered as the largest cryptocurrency market in the world. The report said that this region accounted for approximately 31 percent of the total cryptocurrency transactions that occurred in the duration between June 2019 and July 2020.
Jason Bonds, the Chief Revenue Officer (CRO) at Chainalysis commented on this saying, “Investing in our services across the Asia Pacific could not happen at a better time.”
“Cryptocurrency adoption- stablecoins in particular- is skyrocketing, and regulations are rolling out across the region. Now is the time for cryptocurrency businesses and financial institutions to adopt compliance solutions as regulators and law enforcement focus on this emerging asset class,” he added.
The blockchain analysis firm has claimed in a statement that there are over sixty clients based in the APAC region with whom it is working including crypto.com, Algorand, 100x Group, and the holding structure for BitMEX.
As per the report, Ulisse Dell’Orto has been given the responsibility to lead the new operations in the Asia Pacific region while serving as the Managing Director of APAC activities of Chainalysis. While sharing his view on this appointment, he said, “Chainalysis has already had boots on the ground in APAC for some time, and these offices will help us build even closer ties with the cryptocurrency ecosystem here and meet the growing demand for our investigative solutions and training programs.”