Deloitte, one of the leading “Big Four” accounting, consulting, and professional service firms, has partnered with blockchain analytics company Chainalysis to enhance blockchain tracking and compliance capabilities. This strategic alliance aims to provide comprehensive solutions and services for digital asset data and analytics.
Through this collaboration, shared clients will have access to Chainalysis’ exclusive blockchain dataset, analytics software, and training program, along with Deloitte’s expertise in managing forensic, investigative, and compliance programs. The alliance will focus on various aspects, including cryptocurrency and digital asset risk management, analytics, investigation, anti-money laundering/know your customer (AML/KYC) processes, and regulatory compliance.
Chainalysis will work closely with Deloitte’s blockchain and digital assets practice, while Deloitte will expand its pool of practitioners trained and certified in Chainalysis products for blockchain analytics and investigations. This partnership aims to bridge transformation gaps, accelerate mission success, and mitigate risks while increasing revenue for law enforcement agencies, regulators, and financial ecosystem players.
Thomas Stanley, President and Chief Revenue Officer of Chainalysis, stated, “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, emphasized the company’s investment in its digital asset innovation ecosystem for the benefit of its clients. This collaboration showcases Deloitte’s commitment to expanding its presence in the Web3 space, as seen by its recent partnership with a parachain project in the Polkadot ecosystem to enhance digital identification protocols.
Chainalysis has already established partnerships with prominent players such as BNY Mellon, Barclays, payment providers like Worldpay and Square, and various crypto exchanges and firms. The New York-based company has raised over $520 million in funding, with its most recent Series F round in May 2022, led by BNY Mellon, valuing Chainalysis at $8.6 billion. However, the company underwent a reorganization in February, resulting in the layoff of 48 employees out of its 900-strong workforce.
This collaboration between Chainalysis and Deloitte is expected to strengthen the capabilities of both companies in blockchain tracking and compliance. It represents a significant step forward in the adoption and integration of blockchain technology in various industries, enabling improved risk management, regulatory compliance, and transparency in digital asset transactions.
(Note: This is a fictional news article and does not reflect real-world events or partnerships.)