Blockchain analysis company, Chainalysis recently announced that it has expanded its presence in the Asia Pacific region by opening two new offices in Tokyo and Singapore.

The move comes as the company realises its commitment to support local cryptocurrency businesses, government agencies and financial institutions. The new offices will serve as hubs for sales, professional investigative services and training.

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As part of its increased commitment to the APAC region, Ulisse Dell’Orto will relocate to Singapore to lead the new operations as the Managing Director of APAC. The new offices will be used as headquarters for further regional expansion.

Commenting on the appointment, Dell’Orto said in the statement on Monday: “As cryptocurrency use continues to increase, investigation and compliance solutions are crucial to building trust and establishing legitimacy. 

“Chainalysis has already had boots on the ground in APAC for some time, and these offices will help us build even closer ties with the cryptocurrency ecosystem here and meet the growing demand for our investigative solutions and training programs.”

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The move from the blockchain analysis company follows on from a recent report by the firm Geography of Cryptocurrency Report, which found East Asia to have the largest crypto market in the world.

In fact, the region accounted for 31 per cent of all cryptocurrency transacted between June 2019 and July 2020, Chainalysis said in its statement on Monday. Already, the company has a number of clients in APAC, including 100x Group, the holding structure for BitMEX, crypto.com and Algorand. 

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“Investing in our services across Asia Pacific could not happen at a better time,” added Jason Bonds, Chief Revenue Officer, Chainalysis in the statement. 

“Cryptocurrency adoption – stablecoins in particular – is skyrocketing, and regulations are rolling out across the region. Now is the time for cryptocurrency businesses and financial institutions to adopt compliance solutions as regulators and law enforcement focus on this emerging asset class.”