Elliptic Raises $23 Million in Funding Round Led by SBI Holdings

Must Read

USDT Is A Game Changer For Online Poker

CoinPoker - the flagman of the industry, the biggest and the oldest pure crypto poker...

Can XRP defend its price?

Could XRP defend its price action, and rise back to $0.30? Here is my view on how...

With a 110% increase in crypto wallet adoption rates in 2020 are we set for another Bitcoin boom?

2020 has been a massive year for crypto adoption. In July alone, over 3.5 million crypto wallet app downloads...
- Advertisement -BTCClicks.com Banner
Earn Free Bitcoin

Cryptocurrency compliance company Elliptic has raised $23 million in a Series B funding round led by Japanese financial powerhouse SBI Holdings.

Elliptic continues to expand in Asia

According to a press release shared with Cointelegraph on Sept. 3, the funding will be used to support continued expansion into Asia, with new offices opening in Japan and Singapore. 

The new investment will purportedly accelerate product development to support asset-backed cryptocurrencies such as Facebook’s Libra, Line Corporation’s LINK and central bank digital currencies.

Founded in 2013, the company was established to support the mainstream adoption of crypto assets. One year later, Elliptic launched the world’s first crypto asset transaction monitoring system, making it possible for businesses to safely engage with the emerging asset class.

Support of SBI Holding is pivotal

Co-founder and CEO of Elliptic James Smith said that the company is pleased to have the support of SBI Holdings, who will play an important role in the expansion into Asia.

Smith added that it no longer makes sense to think of a divide between the crypto economy and the wider financial system. He said:

“Crypto-assets represent new opportunities for financial institutions, and as they move towards addressing these, we are here to support them.”

The representative director president and CEO of Tokyo-based SBI Holdings, Yoshitaka Kitao, echoed similar sentiments by saying that he believes cryptocurrencies will play an increasingly important role in the future of banking. 

- Advertisement -
- Advertisement -

Latest News

Wyoming Amends Insurance Code to Allow Insurance Companies to Invest in Bitcoin & other Cryptos

In the first provision of its kind, Wyoming is allowing the domestic insurers to invest...
- Advertisement -Earn Free Bitcoin

DeepTradeBot: The innovation of large companies at your service

DeepTradeBot is a collection of automated trading tools developed by Deep Neuro Networks LTD, a London, England-based company dedicated to artificial intelligence and...

Flyp.me Instant Crypto Exchange Now Supports REN Token Trading

Decentralized finance is leading the way of the cryptocurrency industry, with the REN Protocol at the front. REN Protocol is...

BLOCKCHAIN OVERCOMES POSSIBILITY OF FRAUD, LACK OF TRANSPARENCY AND TRUST IN THE GAMBLING INDUSTRY

DATE: 07/08/2020 In a recent study carried out by the UK Gambling Commission reveals that the gambling industry has...

The Kuailian Ecosystem, Bringing Blockchain Technology To The World

10 years have passed since the birth of Bitcoin and the first use of Blockchain, a technology that has not stopped evolving,...