Elliptic, a leader in digital asset decisioning, has announced a strategic investment from HSBC, becoming the only blockchain analytics firm to receive backing from four globally systemically important banks (G-SIBs), it claimed.
The company has also previously secured investment from JPMorgan Chase, Santander and Wells Fargo.
The financial terms of HSBC’s investment were not disclosed.
Following the deal, Richard May, group head of financial crime for corporate and institutional banking at HSBC, has joined Elliptic’s board of directors.
Founded more than a decade ago, Elliptic develops digital asset risk management and compliance technology. Its platform offers institutions the ability to extract digital asset data and intelligence across blockchains with high levels of accuracy, uptime and scalability. The firm’s technology is used by governments, financial institutions, payment providers and digital asset exchanges worldwide.
Elliptic said the new investment will accelerate its global expansion plans.
Elliptic CEO Simone Maini said, “Elliptic was built with this exact moment in mind. For over a decade, we’ve anticipated the enterprise adoption of digital assets and have invested in the robustness, scale, and compliance capabilities required by global financial institutions. This is validation of our vision and strategy and the market’s growing needs
Maini added, “The digital asset momentum inside global finance is unstoppable — but it must be grounded in trust and transparency. Elliptic offers a platform proven to meet these institutions’ enterprise-grade requirements — reliably and at scale. We are delighted that HSBC is partnering with us as part of their commitment to digital assets.”
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