In Brief:
- Blockchain data platform Chainalysis announced it’s partnership with NYDIG
- The Chainalysis will acquire bitcoin through NYDIG brokerage services.
- Chainalysis has been NYDIG’s compliance technology partner since 2018.
The blockchain data platform Chainalysis announced its partnership with NYDIG, a leading bitcoin technology to execute the purchase of bitcoin for the firm’s balance sheet.
According to the announcement, NYDIG played a critical role in allowing chainalysis to purchase and custody bitcoin. This move demonstrates chainalysis’ long-term investment strategy in the crypto space. Chainalysis has been NYDIG’s compliance technology partner since 2018.
“Chainalysis has long been building trust in the digital assets ecosystem, and the investment shows that belief that bitcoin is a sound investment for the future and happy that they trusted our platform to safeguard their assets,” said Nate Conrad, NYDIG’s Head of Asset Management.
Bitcoin has emerged as an strong alternative asset class for consumers, governments, enterprises, banks, and financial institutions. Chainalysis will acquire bitcoin through NYDIG brokerage services. This builds on years of partnership between both companies highly focused on building financial services that meet the highest regulatory audit.
“Chainalysis is laser-focused on its commitment to building trust in crypto as a digital asset, and we are thrilled to be adding Bitcoin to our corporate investment portfolio,” said Michael Gronagar, Co-founder and CEO at Chainalysis. “Our longstanding relationship with NYDIG enabled us to invest with confidence, knowing we are 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.”
Recently, Chainalysis partnered with Excygent to tackle cryptocurrency investigations. Both collaborations support government agencies in investigating several high-profile cyber cases.
