Cryptocurrencies
Crypto-Tracing Software Firm Expands to Cover More Currencies
- Chainalysis will track Bitcoin Cash, trace other coins soon
- Company raised $16 million in Benchmark-led funding round
This article is for subscribers only.
Chainalysis Inc., a maker of anti-money-laundering software, is widening the reach of its products that monitor cryptocurrency trading amid heightened demand for secure transactions.
The startup, which spent months refining Bitcoin-tracing software, today can begin detecting criminal activity and money laundering in Bitcoin Cash, co-founder Jonathan Levin said in a phone interview. The company plans to support investigations and monitoring of 10 cryptocurrencies by year-end. Customers are interested in tracing Ether, Litecoin, Ripple and Ethereum Classic, among others, he said.