Elliptic Lands HSBC Investment, Extending Big Bank Backing in Blockchain Analytics

Blockchain analytics firm Elliptic has secured a strategic investment from HSBC, making it the only company in the sector to be backed by four globally systemically important banks (G-SIBs). HSBC joins JPMorgan Chase, Santander and Wells Fargo on Elliptic’s investor roster. As part of the deal, Richard May, Group Head of Financial Crime at HSBC’s corporate and institutional banking arm, will take a seat on Elliptic’s board. Elliptic’s technology is used by financial institutions, crypto exchanges and governments to monitor blockchain transactions for signs of financial crime. With HSBC’s investment,...