Japan’s biggest bank, Mitsubishi UFJ Financial Group, invested $6 million on crypto startup Chainalysis.
On Tuesday, Chainalysis announced that the investment was from MUFG’s venture capital unit.
This additional investment means that the cryptocurrency startup will have $36 million for its second round of financing, seeing that $30 million were raised in February in an initial round. Chainalysis stated that it wants to expand its Asia-Pacific business as well as open a new office in order to achieve that. The startup declared that it had already experienced major growth in the region, stating that the number of clients has doubled and expanding contracted revenue by 16x the previous year.
“The startup is planning to advance engaging with entities including MUFG and Sozo that will provide essential marketing insights.”
Chainalysis raised $16 million in the first round of financing and, consequently, launched Chainalysis KYT, a cryptocurrency compliance tool, which, as they claim, offers real time transaction analysis.
In yesterday’s announcement MUFG Innovation Partners CEO and president said: “Chainalysis’s compliance technology is crucial in offering anti-money laundering controls and the insight to create next generation compliance framework.”
Chainalysis, which was established in 2014, particularly assisted with investigating the Mt. Gox bankruptcy case, attempting to find lost bitcoins of the the crashed exchange.
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