Leading blockchain analytics firm Chainalysis is opening its first Australian function in Canberra, coinciding with the news it has partnered with the Commonwealth Bank on its plans to offer crypto trading to vi.5 one thousand thousand app users.

Chainalysis, which was valued at $iv.2 billion at its Series E funding round in June, is a blockchain data research platform founded by Jonathan Levin and Michael Gronager in 2022.

According to the company's 2022 Geography of Cryptocurrency report, Southern Asia and Oceania are the fourth-largest crypto market in the earth, accounting for $572.5 billion or 14% of all cryptocurrency value transacted betwixt July 2022 and June 2022.

According to the report, the transaction activeness in Oceania and Central and Southern asia increased by 706% during the same menses.

"The Pacific region is quickly becoming a eye for cryptocurrency innovation," said Chainalysis Australia and New Zealand manager Todd Lenfield. "Our increased investment in the region volition ensure businesses and governments can explore digital nugget ecosystems in a safety, compliant style."

The company's managing managing director for the Asia-Pacific region, Ulisse Dell'Orto, added:

"Chainalysis'south data platform will strengthen the trust necessary to further legitimize cryptocurrency as an everyday asset for retail and institutional investors alike."

Related: Chainalysis will add together Bitcoin to its balance sheet as price surges

The news comes afterward Chainalysis appear partnerships with leading Australian cryptocurrency businesses CoinSpot and CoinJar during August of terminal year.