Elliptic announced J.P. Morgan as an additional investor as part of its recent $60 million Series C funding round led by Evolution Equity Partners and including SoftBank Vision Fund 2, AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire and Paladin Capital Group.
This investment will help accelerate Elliptic’s global expansion and further enable financial services market institutions to embrace the crypto opportunity with increased trust and confidence. Elliptic serves traditional financial institutions, fintechs, crypto businesses and government agencies with a leading suite of compliance and investigative solutions built specifically for crypto assets.
Elliptic’s blockchain compliance product can support more than 500 crypto assets, or more than 98% of all crypto assets by market cap. Furthermore, two thirds of crypto volume worldwide is transacted on exchanges that use Elliptic solutions.
Simone Maini, Elliptic CEO, said in a statement: “As an asset class, crypto has grown by more than 10x over the last five years and is now worth more than $1 trillion. A potential further 10x of growth lies ahead — and will be driven by businesses keen to shape the future of finance…As more established financial institutions move into the sector, these companies need to understand when they can let transactions run — and when they should intervene. Stopping financial crime is not just a regulatory requirement but an ethical one, and a safe ecosystem is a healthy ecosystem.”