Chainalysis, the blockchain data platform, today announced it is expanding its long-standing partnership with NYDIG, a leading Bitcoin technology and financial services firm, to execute a purchase of bitcoin for the firm’s balance sheet. NYDIG played a critical role in enabling Chainalysis to buy and custody bitcoin, a move that demonstrates Chainalysis’ long-term investment strategy. Chainalysis has been NYDIG’s compliance technology partner since 2018.
“Our expanding partnership with Chainalysis is a mutually beneficial relationship,” said Nate Conrad, NYDIG’s Head of Asset Management. “Chainalysis has long been building trust in the digital asset ecosystem, and this investment shows their belief that bitcoin is a sound investment for the future. We are happy that they trusted our platform to safeguard their assets.”
Digital assets have emerged as an alternative asset class for consumers, enterprises, governments, banks and financial institutions. Guided by strong confidence in Bitcoin, as well as NYDIG’s institutional expertise in trading, execution, and custody, Chainalysis will acquire bitcoin through NYDIG’s brokerage services. This builds on Chainalysis and NYDIG’s years of partnership, which has focused on building a financial services platform that meets the highest regulatory, audit, and governance standards, and fosters trust and safety for customers.
“Chainalysis is laser-focused on its commitment to building trust in cryptocurrency as a digital asset, and we are thrilled to be adding Bitcoin to our corporate investment portfolio,” said Michael Gronager, co-founder and CEO at Chainalysis. “With any financial transaction, a level of trust and transparency is necessary. Our longstanding relationship with NYDIG enabled us to invest with confidence, knowing we were dealing with an industry leader. This is Chainalysis’ first acquisition of cryptocurrency, and we will continue to pursue other digital assets as potential future investments.”
Chainalysis raised $300 million in the past year, most recently a Series E fundraising round that valued the company at $4.2 billion.
Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Our data 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, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.
NYDIG provides Bitcoin technology and financial services solutions to banks, insurers, corporations, and institutions. The firm and its products meet the industry’s highest regulatory, audit, and governance standards. Learn more at nydig.com, or connect on LinkedIn and Twitter.