Chainalysis has partnered with African blockchain forensics and analysis firm, A&D Forensics, to bring Chainalysis Reactor to Africa.
The Chainalysis Reactor is an investigative instrument built by Chainalysis, one of the most popular blockchain tracking firms. The new partnership with A&D Forensics will bring the software to the African market to aid in better detection of malicious activities on the blockchain.
“Chainalysis is dedicated to building trust in blockchains across the world, and Africa, in particular, is an exciting market with growing cryptocurrency adoption ,” said Jason Bonds, Chief Revenue Officer, Chainalysis. “By partnering with A&D Forensics, we’re continuing to expand our reach into new jurisdictions and responding to the increased demand for both cryptocurrency investigation and compliance solutions.”
Further, both firms will work with compliance officers, analysts, and regulators to analyze blockchain transactions on the continent. A&D Forensics is Chainalysis’s first investigative partner based in Africa, providing investigatory services to law enforcement to prevent fraud and other activities from bad actors.
“Both Chainalysis and A&D Forensics are committed to promoting the safe adoption of cryptocurrencies by building trust among financial institutions, governments, and cryptocurrency businesses,” said Adedeji Owonibi, Senior Partner at A&D Forensics. “By partnering with Chainalysis, we’re providing the African cryptocurrency ecosystem with the investigative technology that it needs to fully understand blockchain activity.”
Also, Chainalysis partnered with the largest P2P exchange in Africa, Paxful, to help monitor and detect suspicious transactions on the platform.
Africa’s cryptocurrency continues to grow despite regulation. With partnerships like these, Cryptocurrency projects could effectively work with regulators. Remember to join us on Telegram to get the latest cryptocurrency updates.