Chainalysis and Deloitte Partner to Strengthen Blockchain Tracking, Compliance Capabilities

Deloitte, a prominent member of the renowned “Big Four” accounting, consulting, and professional service firms, has joined forces with Chainalysis, a blockchain analytics company, this week. The newly formed strategic alliance aims to offer comprehensive solutions and services for digital asset data and analytics.

The collaboration will enable their shared clients to utilize Chainalysis’ exclusive blockchain dataset and analytics software and training program, as well as Deloitte’s services to help customers manage forensic, investigative, and compliance programs.

Chainalysis Deloitte Alliance

The official press release stated that Chainalysis is set to collaborate closely with Deloitte’s blockchain and digital assets practice, encompassing various aspects such as cryptocurrency and digital asset risk management, analytics, investigation, anti-money laundering/know your customer (AML/KYC) processes and regulatory compliance.

Deloitte, on the other hand, will double down on expanding its practitioner pool trained and certified in Chainalysis products designed for blockchain analytics and investigations.

Commenting on the development, Chainalysis’ President and Chief Revenue Officer Thomas Stanley, 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.”

Deloitte’s Advisory Blockchain and Digital Asset practice lead and principal, Tim Davis, also weighed in on the collaboration and added that the move demonstrates the company’s investment in its digital asset innovation ecosystem for the benefit of its clients.

As part of its expansion in the Web3 space, Deloitte recently became one of the major enterprise partners to come to the Polkadot ecosystem after teaming up with a latter’s parachain project to improve digital identification protocols.

Chainalysis’ Range of Clients

In recent years, Chainalysis has roped in several prominent players, including BNY Mellon and Barclays, payment providers, such as Worldpay and Square, as well as crypto exchanges and firms.

The New York-based company raised over $520 million in funding, with the last announced Series F round of $170 million in May 2022 led by BNY Mellon. The round catapulted Chainalysis’ valuation to $8.6 billion. However, the company announced laying off 48 of its 900 employees as part of a reorganization in February.