BNY Mellon Joins Singapore Sovereign Wealth Fund In $170,000,000 Fundraising Round for Crypto Data Platform

The Singapore Investment Corporation (GIC) government, the Singapore Sovereign Wealth Fund and the US banking giant Bank of New York Mellon Corporation (BNY Mellon) are leading a new $175 million fundraising round for the crypto data platform Chainalysis.

After a recent funding round, Chainalysis is now valued at $8.6 billion, making the platform the largest enterprise software service provider in the crypto space, according to the new company. presentation.

The data platform plans to enhance its data platform to support new and improved risk management and business intelligence tools, while investing funds in product innovation and global operations expansion. Other investors in the fundraising round include Accel, Blackstone, Dragoneer, FundersClub and Emergence Capital.

Chainalysis says the number of customers has grown by 75% over the past year. The platform currently has over 750 clients in 70 countries, including over 100 financial institutions.

This investment is not BNY Mellon’s first entry into the cryptocurrency space. This week, the New York-based bank participated in a major funding round for crypto trading infrastructure firm Talos.

And in 2021, BNY Mellon, one of the world’s oldest banks, invested in Fireblocks, a platform that allows banks, exchanges, fintech companies and other financial institutions to store, move and issue crypto assets.

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