Deloitte and Chainalysis Ally to Offer Digital Asset Data and Analytics Solutions

Deloitte, one of the “Big Four” accounting, consulting and professional service firms, and blockchain analytics firm Chainalysis have announced an alliance to provide digital asset data and analytics solutions and services.

The collaboration will allow their shared clients to leverage Chainalysis’ proprietary blockchain dataset and analytics software and Deloitte’s services, the companies said in a Tuesday (July 25) press release. These tools provide enhanced capabilities in managing their forensic, investigative and compliance programs.

“For law enforcement agencies, regulators, and financial ecosystem players across the nation, the alliance offers new, collaborative solutions that help identify transformation gaps, accelerate mission success at enterprise scale, and mitigate risk while increasing revenue,” Chainalysis President and Chief Revenue Officer Thomas Stanley said in the release.

Deloitte is expanding its practitioner pool training and certification in Chainalysis products. This allows Deloitte to meet industry demand for risk management technology solutions and services, according to the press release.

Together, the two companies will provide services across cryptocurrency and digital asset risk, analytics, investigation, anti-money laundering/know your customer (AML/KYC) and regulatory compliance, the release said.

“As digital asset adoption and proliferation continues, Deloitte is committed to advising our clients on leading thinking and approaches to risk management, analytics use, and regulatory compliance,” Tim Davis, Deloitte’s Advisory Blockchain and Digital Assets practice lead and principal, Deloitte & Touche, said in the release. “Our new alliance with Chainalysis is another demonstration of Deloitte’s investment in its digital asset innovation ecosystem for the benefit of our clients.”

Among regulators around the world, there are some who are real experts and others who are first dipping their toes into crypto and willing to learn, Chainalysis Head of Research Kim Grauer told PYMNTS’ Karen Webster in an interview posted in March.

One common pushback is that regulators “just don’t buy” that crypto has other use cases beyond enabling illicit activities, Grauer said at the time.

“They say, ‘I don’t see the benefit; it’s only used by criminals,’ and that’s why we put out our geography and crime reports to show the real reasons people are using it — that it’s something you can transact internationally and instantaneously, and that a lot of these financial crimes are really very prevalent in traditional markets too,” Grauer said.