Deloitte and Chainalysis, the blockchain data platform, announced a new strategic alliance to help the organizations’ mutual clients address digital asset ecosystem compliance challenges.
Through the alliance, Chainalysis’ and Deloitte’s shared clients will be able “to leverage Chainalysis’ proprietary blockchain dataset and analytics software and training program with Deloitte’s services to help clients manage forensic, investigative and compliance programs.”
As regulators clarify their expectations around digital assets, law enforcement agencies “build out their blockchain tracing capabilities, and financial institutions develop digital assets strategies, Deloitte and Chainalysis are meeting market demand for risk management technology solutions and services.”
Together, Deloitte and Chainalysis will “help their mutual clients implement state-of-the art forensic, investigative and compliance programs.”
Chainalysis will work “with Deloitte’s blockchain and digital assets practice across cryptocurrency and digital asset risk, analytics, investigation, anti-money laundering/know your customer (AML/KYC), and regulatory compliance.”
Additionally, Deloitte will “expand its practitioner pool trained and certified in Chainalysis products focused on blockchain analytics and investigations.”
Thomas Stanley, President and Chief Revenue Officer of Chainalysis, said:
“For law enforcement agencies, regulators, and financial ecosystem players across the nation, the alliance offers new, collaborative solutions that help identify transformation gaps, accelerate mission success at enterprise scale, and mitigate risk while increasing revenue.”
Tim Davis, Deloitte’s Advisory Blockchain and Digital Asset practice lead and principal, Deloitte & Touche LLP, said:
“As digital asset adoption and proliferation continues, Deloitte is committed to advising our clients on leading thinking and approaches to risk management, analytics use, and regulatory compliance. Our new alliance with Chainalysis is another demonstration of Deloitte’s investment in its digital asset innovation ecosystem for the benefit of our clients.”
As noted in the update, Chainalysis is the blockchain data platform.
They aim to “provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 70 countries.”
Their data reportedly “powers investigation, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely.”
Backed by Accel, Addition, Benchmark, Coatue, GIC, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis says it “builds trust in blockchains to promote more financial freedom with less risk.”
Deloitte says that it “provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90% of the Fortune 500® and more than 7,000 private companies.”
Their people come together “for the greater good and work across the industry sectors that drive and shape today’s marketplace — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthier society.”