Elliptic

Blockchain analytics & crypto compliance platform

To protect its customers from financial crime in crypto assets.

The rise of cryptocurrency has been dramatic. 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.

A key issue with most cryptocurrencies is that their nature means they can be used by criminals for illicit activities, such as money laundering. Elliptic’s focus is on tackling financial compliance, and it has developed machine learning tech that screens transactions to identify suspicious patterns and dubious transactors. It offers an integrated suite of products for financial institutions to screen crypto-flows, which it analyses for links to illicit activity such as money laundering, terrorist financing and other financial crimes.

Elliptic’s dataset has been developed since 2014 and includes over 20 billion data points and covers 148 assets, representing 98% of the global trading volume. Two-thirds of global crypto volumes are transacted on exchanges that use Elliptic’s products, highlighting the company's leadership position in the market.

It works with firms like Coinbase on their internal anti-money laundering compliance, and with other big-name clients such as Santander, Revolut, Genesis, and Stellar. Elliptic is currently working with several undisclosed leading research and trading desks to develop its product to maintain its strong position.