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The UK-based crypto start-up “Elliptic” recently made an announcement that they raised a $23M Series B to step up growth for a crypto risk-management play which institutes of selling tech and services to help others in need of help with cryptos.
The fundraising round was led by financial services and asset management firm SBI Group a Japan-based conglomerate, SoftBank. In addition to the existing investors including Octopus Ventures, SignalFire, and Santander Innoventures also participated, a London-based AlbionVC has also invested into this venture.
Cryptocurrency transactions are to be vibrant and credible at Elliptic. It is reckoned that the illegitimate cryptocurrency activities have to be disrupted to abstain the criminals from undermining the ideals on which cryptocurrencies are built.
Dr. James Smith, Co-founder and the CEO of Elliptic, says: “we believe it no longer makes sense to think of a divide between the crypto economy and the wider financial system. Crypto-assets represent new opportunities for financial institutions, and as they move towards addressing these, we are here to support them.”