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Deloitte, a key player among the esteemed “Big Four” accounting, consulting, and professional service firms, has partnered with Chainalysis, a blockchain analytics firm, this week. This newly established strategic partnership seeks to provide extensive solutions and services related to digital asset data and analytics.
The collaboration will allow their mutual clients to access Chainalysis’ proprietary blockchain dataset and analytics software, along with training programs, in addition to Deloitte’s services aimed at assisting customers with forensic, investigative, and compliance initiatives.
Chainalysis Deloitte Alliance
The official press release indicated that Chainalysis will work closely with Deloitte’s blockchain and digital assets division, covering various elements such as cryptocurrency and digital asset risk management, analytics, investigations, anti-money laundering/know your customer (AML/KYC) procedures, and regulatory compliance.
Deloitte, in turn, will focus on enhancing its pool of practitioners trained and certified in Chainalysis products tailored for blockchain analytics and investigations.
In response to the announcement, Chainalysis’ President and Chief Revenue Officer Thomas Stanley remarked
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“For law enforcement agencies, regulators, and participants in the financial ecosystem nationwide, the alliance provides new, collaborative solutions that assist in identifying transformation gaps, accelerating mission success at an enterprise level, and mitigating risk while enhancing revenue.”
Deloitte’s Advisory Blockchain and Digital Asset practice lead and principal, Tim Davis, also commented on the partnership, noting that this initiative reflects the company’s commitment to its digital asset innovation ecosystem for the advantage of its clients.
As part of its growth in the Web3 sector, Deloitte recently became a significant enterprise partner within the Polkadot ecosystem after collaborating with one of its parachain projects to enhance digital identification protocols.
Chainalysis’ Range of Clients
In recent years, Chainalysis has engaged several notable clients, including BNY Mellon and Barclays, as well as payment providers like Worldpay and Square, along with various crypto exchanges and firms.
The New York-based company secured over $520 million in funding, with the most recent Series F round of $170 million announced in May 2022, led by BNY Mellon. This funding round elevated Chainalysis’ valuation to $8.6 billion. However, the company disclosed the layoff of 48 of its 900 employees as part of a restructuring effort in February.
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