Elliptic investment signals market focus on compliance and regulation
Consolidating our focus upon the world of distributed ledger and blockchain, Elliptic has just become the latest addition to the Santander Innoventures’ investment portfolio. Earlier blockchain investments include Ripple and Digital Asset Holdings.
The growth of Elliptic signals a new stage in the evolution of the blockchain marketplace, the company provides compliance departments and regulators with the tools needed to combat illicit activity. As more businesses adopt blockchain technology, the requirement for Elliptic’s data and analytics services is expected to grow in both the private and public sector.
Using graph analysis and machine learning, Elliptic helps identify illicit activity in blockchain transactions. Elliptic offers its services and tools to banks and financial services businesses, as well as law enforcement agencies around the world.
Today’s press announcement – found here – details all the participants in Elliptic’s first round of fund raising. In addition to the merits of Elliptic and its business plans, we are also pleased to be collaborating with other key investors in this arena, including Paladin Capital a specialist in cyber security technologies, and Digital Currency Group, a prominent investor in the digital currency sector. The round was made up by KRW Schindler and existing investor Octopus Ventures.