Crypto compliance and investigation provider Chainalysis has become the only blockchain company to make Forbes’ next billion-dollar startups list of 2019, joining the ranks of tech giants—Patreon and Duolingo. Its efforts to tackle crime in the crypto industry and build tools to enable easy regulatory compliance have made it one of the most promising companies in the industry.
Forbes believes Chainalysis will be the next billion-dollar startup
With crime and uncertainty plaguing every corner of the crypto world, it’s no wonder why one of the industry’s most valuable companies is a startup working on combating these issues. Chainalysis, a blockchain analysis company founded in 2014, recently became the first crypto company to make Forbes‘ “next billion-dollar startup” list of 2019.
Chainalysis has joined the ranks of 24 other tech giants, who Forbes believes have the potential to achieve a billion-dollar valuation (unicorns). The company has joined the ranks of Patreon, one of the most popular crowdfunding platforms in the world, and Duolingo, the globally popular language learning app, alongside a slew of other tech innovators that include Cyberason, Syntego, Truepill, and Front.
The legendary publication seems to believe that the astronomic growth the company has seen in the past two years will help Chainalysis join the handful of unicorns in the crypto business.
The company just launched a new tool that helps traditional banks and money processing services automatically comply with regulations. It enables banks to quickly and securely verify the source of their clients’ funds – an invaluable tool for banks looking to serve more crypto companies.
That very effort helped Chainalysis’s revenue reach an estimated $8 million in 2018, Forbes reported,