Chainalysis, the blockchain analysis company, today announced the launch of Chainalysis Business Data, a first-of-its-kind data offering to help cryptocurrency exchanges and other fintech companies that offer cryptocurrency services better understand their users, tailor their product offerings, and identify new revenue streams. Business Data is powered by Chainalysis’s proprietary data, which cryptocurrency businesses across the world already use for compliance. Business Data is the first Chainalysis offering designed for marketing, finance, and product development teams to help them drive user growth.
“The benefit of cryptocurrency is its inherent transparency, and with the right data, businesses can gain valuable intelligence to inform their growth strategies,” said Jonathan Levin, Co-Founder and Chief Strategy Officer, Chainalysis. “This level of data-driven business development is another advantage of blockchains that just isn’t possible in traditional finance.”
Chainalysis has been systematically building its data set since 2014, linking blockchain activity to real world entities. Chainalysis monitors over 100 digital assets including Bitcoin, Ethereum, and the most popular ERC-20 tokens and stablecoins, representing over $200 billion worth of transactions per month. Financial crime and compliance professionals already rely on Chainalysis on-chain data to detect and investigate illicit transactions. Chainalysis Business Data harnesses the same trusted dataset to help exchanges answer questions like:
- Should we run a promotion on certain assets?
- Are customers leaving and going to competitors?
- Which new customers should we target?
- Which acquisition channels result in my best customers?
“One of cryptocurrency’s many advantages is its transparency, which provides unique opportunities for business development,” said Phoivos Mytilinaios, Head of Business Intelligence & Data Engineering at Bitpanda, Europe’s leading digital asset platform. “By extending their data-driven offerings beyond compliance, Chainalysis will help inform our marketing and product development strategies to grow and retain our customer base.”
Chainalysis Business Data is delivered as a data feed that can be easily integrated into customers’ data warehouses. It can then enrich existing datasets to derive deeper insights into their users’ behaviors. Chainalysis also offers expert services from data scientists to assist customers in integration and analysis. Business Data is now generally available as a subscription offering.
Chainalysis recently closed its Series D funding, raising $100 million with a more than $2 billion valuation. Chainalysis serves as a strategic partner to financial institutions, governments, and cryptocurrency businesses around the world, providing data, software, and expertise on sophisticated cryptocurrency crime and money laundering tactics, techniques, and procedures.