London-based blockchain intelligence firm Elliptic has secure $5m in Series A funding, led by Paladin Capital Group. Elliptic fit between the growing acceptance of compliance tool, together with the security that the blockchain can provide.
“Distributed ledger technology, including blockchain, has huge potential to deliver cost savings and new ways of working across the global banking industry – but most blockchain applications today are still in the proof of concept stage. “For distributed ledger technology to achieve widespread use, compliance departments and regulators will demand independent monitoring capabilities to combat insider trading, fraud, and money laundering. Elliptic is an authority in this area. We are delighted to be working with the team to help realize the potential of this exciting new technology,”