Blockchain analytical company Chainalysis has recorded growth in 2020, with the New York-based firm recording a 65% increase in the number of customers. The growth has been fueled by an increase in demand from public sector agencies as more governments become interested in the digital currencies space. In its October update, Chainalysis revealed that it had recorded 100% growth in its recurring revenue year-on-year in Q3 2020. The blockchain analysis firm attributed the growth to an increase in demand from governments as they seek insight into digital currency transactions. Startup jobs have increased in the crypto and blockchain industry in the last few years.
Chainalysis plans to expand its operations.
Chainalysis is expanding its team to meet the newly increased demand. The blockchain analysis firm is hiring Rakib Azik as the new vice president of finance and Betsy Bevilacqua as the vice president of information security. Azik joins the company after decades in consumer product and software companies, most recently playing a key role in a successful IPO for software company MongoDB. Bevilacqua also joined Chainalysis after performing executive roles at Fortune 500 companies, including Facebook and eBay, where she served in cybersecurity roles.
“Chainalysis builds trust and brings legitimacy to the future of finance.”
The blockchain analysis firm also hired in its legal, market development, and technical solutions departments. Founder and the CEO of Chainlaysis, Michael Gronager, described the firm as an integral player in the mainstream adoption of digital currencies. He commented, “Chainalysis builds trust and brings legitimacy to the future of finance. When law enforcement and regulators become comfortable with digital assets, exchanges are able to grow, and financial institutions can enter the ecosystem to safely and responsibly capitalize on this growing asset class.” Chainalysis continues to work with both governments and private entities to crack down on illegal activities involving cryptocurrencies.