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Last Updated : Apr 17, 2019 06:54 PM IST | Source: Moneycontrol.com

MUFG Innovation Partners announces investment in Chainalysis

With the investment, Chainalysis plans to expand its business in Asia-Pacific and to open an office in the region.

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MUFG announced that MUFG Innovation Partners Co., Ltd. (MUIP), a corporate venture capital fund and wholly owned subsidiary of MUFG, has invested in Chainalysis, Inc., a provider of investigation and compliance solutions to combat against illicit cryptocurrency activities.

The Chainalysis investment is MUIP's first investment outside of Japan and second since its January 2019 launch by MUFG. With the investment, Chainalysis plans to expand its business in Asia-Pacific and to open an office in the region.

Chainalysis has emerged as a leading provider of cryptocurrency compliance solutions. While the development and adoption of blockchains and corresponding decentralized financial systems have been growing, infrastructure and regulatory compliance frameworks are needed to ensure and build trust amongst all stakeholders.

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"Chainalysis's compliance technology is important to providing the insight and anti-money laundering controls banks need in order to establish next-generation compliance frameworks," said Nobutake Suzuki, MUFG Innovation Partners' President and CEO.

"Today's announcement signals our joint commitment to growing the cryptocurrency industry in Japan and Asia-Pacific more soundly and broadly. Further, it is our hope that this investment will lead MUFG toward forming a closer strategic relationship with Chainalysis."

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First Published on Apr 17, 2019 06:54 pm
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