The Government of Singapore Investment Corporation (GIC), Singapore’s sovereign wealth fund, and US banking giant Bank of New York Mellon Corporation (BNY Mellon) are leading a new $175 million funding round for crypto data platform Chainalysis.
Following the latest round of funding, Chainalysis is now valued at $8.6 billion, making the platform the largest enterprise software-as-a-service company in the crypto space, according to a new company release.
The data platform plans to invest the funds in product innovation and scaling its global operations, while enhancing its data platform to support new and improved risk management and business intelligence tools. Other investors in the fundraising round include Accel, Blackstone, Dragoneer, FundersClub and Emergence Capital.
Chainalysis says it has grown its customer base by 75% over the past year. The platform now has more than 750 customers in 70 countries, including more than 100 financial institutions.
The investment is not BNY Mellon’s first foray into the crypto space. Just this week, the New York-based bank participated in a major funding round for crypto trading infrastructure company Talos.
And in 2021, BNY Mellon, one of the oldest banks in the world, invested in Fireblocks, a platform that enables banks, exchanges, fintech companies, and other financial institutions to store, move, and spend crypto assets.
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Source: Crypto News Deutsch