SoftBank joined new funding round with crypto analtycis firm Elliptic led by Evolution Equity Partners and gathered $60 million as we are reading more in our latest crypto news today.
Elliptic is a London-based crypto asset risk management services provider which announed it has raised $60 million in latest Series C Funding led by Evolutioon Equity Partners. The Japanese investemnt giant SoftBank participated in the fundign round through its $30 billion vision fund 2 alongisde investors like Albion VC, Digital Currency Group, Wells Fargo, SBI Group, Octopus Ventures, Strategic Capital, Signal Fire and Paladin Capital Group. Elliptic managed to raise $5 million in Series A in 2016 and $29 million in 2019 and 2020.
In a blog post, the company described the latest round as a recogniiton of the criticial role in the crypto ecosystem, saying that they have more plans to use the funds to speed up the research and development efforts.
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Elliptic will be expanding the global team of experts with a focus on the United States:
“We’ve already grown, as a team, by nearly 50% this year and will use this investment to grow even faster. By the end of 2022, we will grow to more than 200 Elliptites globally.”
Softbank Joined new funding round this time with Elliptic as it works with traditional financial institutiions, fintech companies and government agencies by offering a suite of compliance and investigative tools that are built for monitoring transactions that involve cryptos like Ethereum, Bitcoin, Binance Coin and more. Some of the company’s clients include crypto-friendly trading app Revolut, Spanish banking giant Santander and the Stellar Foundation. In June this year, the company added privacy coins like Horizen and Zcash to its list of supported crypto, followed by Polkadot, Algorand and more. Ellitpic researchers also helped disover Antinalysis which was a new online tool that was built by a darknet market administrator to help merchants launder BTC. The co-founder Tom Robinson explained the tool as a blockchain analytics tool built for criminals, by criminals, that allow users to chek where the BTC they hold originates and how risky it is to hold it.
As recently reported, The Japanese banking giant SoftBank invested $200 million in Mercado Bitcoin according to recent reports and executive chairman Robert Dagnoni and CEO of 2TM which Is the parent company of Mercado bitcoin, noted that this move represents the biggest Series B funding round in Latin America and its biggest investment in the crypto company. Mercado Bitcoin intends to use the fresh capital and expand its offerings outside of the confines of the Matin American market to scale its operations and invest in new infrastructure that will help it meet the rising demand for crypto-related services in the country.
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