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Palantir Expecting Big Things From New Crypto Security Software

Palantir Technologies Inc. (NYSE:PLTR) chief operating officer Shyam Sankar said he thinks its new crypto software will be a “massive accelerant” for companies on the firm’s third-quarter earnings call Tuesday.Earlier this year Palantir, a data and analytics firm co-founded by billionaire Peter Thiel, released its Foundry software to serve the cryptocurrency market.“We are super excited about Foundry for crypto,” said Sankar during the earnings call, adding, “We think we’re going to be a massive accelerant for crypto companies,” adding that its clients are “welcome to pay us in crypto.”Palantir sees itself being a fit for crypto firms that require “industrialized compliance solutions.” The company said it is leveraging its anti-money laundering and know-your-customer expertise for potential crypto-exposed clients.In October, Palanti added blockchain data analytics firm Elementus to its Foundry for Builders Program, which provides startups with access to the flagship Foundry data intelligence software.Overall for the quarter, Palantir met earnings estimates and beat revenue estimates, but the growth in its government revenue fell short of analyst expectations. Palantir shares were trading about 8.8% lower Tuesday at $24.40

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