Crypto Analysis Firm Elliptic Raises $ 60 Million From SoftBank, Others

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LONDON, Oct. 11 (Reuters) – Cryptocurrency analyst firm Elliptic said on Monday it had raised $ 60 million from investors including SoftBank (9984.T) and Wells Fargo Strategic Capital, the latest firm in blockchain analysis to attract mainstream investment.

As big investors turn to cryptocurrencies, demand for blockchain and data analytics companies like Elliptic has increased, in part due to growing regulatory control over a troubled industry. compliance such as the illegal use of digital tokens. Read more

U.S. blockchain data platform Chainalysis said in June it had raised $ 100 million at a valuation of $ 4.2 billion, in a bid to expand its coverage of crypto assets. Read more

London-based Elliptic said the Series C round was led by Evolution Equity, with SoftBank Vision Fund 2 investing for the first time. Other new investors include Japanese group SBI, Elliptic said in a statement, without disclosing its valuation.

Elliptic, established in 2013, follows the movement of cryptocurrencies on the blockchain – the technology behind them – to help with financial crime compliance.

He plans to invest in his global network and team, as well as continue research and development, he said.

Elliptic’s customers include traditional financial firms, financial technology and crypto companies, as well as government agencies. Two-thirds of the world’s crypto volume goes through exchanges that use the company’s software, he said.

“This fundraiser is an endorsement of the opportunity for cryptoassets in the financial sector,” said Simone Maini, CEO.

Reporting by Tom Wilson Editing by Mark Potter

Our Standards: The Thomson Reuters Trust Principles.

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