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USD 5 mln invested by Wells Fargo in Elliptic to connect crypto exchanges and banks

Friday 27 March 2020 12:49 CET | News

Banking company Wells Fargo has revealed it is backing blockchain forensics agency Elliptic.

As per their agreement, the USD 5 million from Wells Fargo Strategic Capital (WFSC) brings Elliptic’s Collection B as much as a complete of USD 28 million. The funding is partly geared towards a recent launched product that helps crypto exchanges win banking relationships.

The product is called Elliptic Discovery, and it gives an invoice of well being for over 200 crypto exchanges worldwide, protecting every part from how they conduct KYC checks to whether or not they’re regulated in the primary place.

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Keywords: Wells Fargo, investments, startup, cryptocurrency, exchanges, banks, digital assets, banking, KYC, blockchain
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies