Elliptic, a blockchain startup based in London, has risen $ 60 million in Series C funding to help easily integrate traditional financial markets with cryptocurrencies.
The financing round was led by Evolution Equity Partners with the 2nd participation of SoftBank Vision Fund. Existing investors include AlbionVC, Digital Currency Group, Wells Fargo Strategic Capital, SBI Group, Octopus Ventures, SignalFire and Paladin Capital Group. This brings the total funding raised by the startup to more than $ 100 million. Neil Cunha-Gomes, an investor at SoftBank Investment Advisers, mentioned that the company participated in the round:
“The unique nature of cryptography as a class of active maturation is a growing need for corporate compliance and transaction control tools. Elliptic was an early movement in this space and its customizable platform is trusted by financial institutions of all sizes. to assist in the mission of enabling security. “
Elliptic was created with the mission of promoting the adoption of cryptocurrencies in traditional financial markets. The launch seeks to do this by providing software-based compliance and research solutions to financial institutions, government agencies, and other businesses that facilitate interaction with crypto assets by leveraging the transparency of blockchain technology.
The grant will be used to support Elliptic’s research and development efforts and expand its team, enabling the startup to expand its global network and maintain its leadership position. Richard Seewald, founder and managing partner of Evolution Equity Partners, will play a full role in these efforts after joining the startup’s Board of Directors as a result of the turn. In this regard he said:
“Elliptical is at the forefront of protecting our digital world and enabling the safe adoption of cryptocurrencies in financial services. Recent Fundraising Elliptic provides more resources to expand market-leading cryptocurrency risk management to financial institutions, businesses and regulatory authorities around the world.”
As cryptocurrencies become more and more attractive to organizations, governments around the world are giving priority to regulatory efforts. However, it continues to create a mix of regulations because agencies such as the Securities and Exchange Commission (SEC) have not issued clear and concise rulings on new technologies, an issue that is currently within a legal issue. https://www.reuters.com/legal/transactional/judge-ripple-cryptocurrency-case-wants-token-holder-views-2021-10-04/
Solutions like the one developed by Elliptic will allow financial institutions to invest in cryptography while complying with current regulations in order to take advantage of it. cryptocurrency boom.