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Stock impact report

Crypto compliance startup Chainalysis raises funding from MUFG, Sozo Ventures [Reuters]

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Company Research Source: Reuters
Crypto compliance startup Chainalysis raises funding from MUFG, Sozo Ventures NEW YORK (Reuters) - New York-based cryptocurrency compliance startup Chainalysis has raised $6 million in funding from Japanese financial group Mitsubishi UFJ Financial Group Inc and venture capital firm Sozo Ventures, the company said on Tuesday. Chainalysis hopes the strategic investment will help it further its expansion plans in Asia, Chief Executive Michael Gronager, said in an interview. “We are looking into opening an office in Japan in the next year or so, but we don’t yet have a specific timeline,” Gronager said. Chainalysis is known for its work in helping law enforcement, regulators, and businesses including banks track flows of cryptocurrency to spot illicit activity. While big banks have largely steered clear of investing in the nascent asset class, they provide banking services to companies in the space and are required to conduct anti-money laundering and other checks on their clients’ flows. Show less Read more
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