Elliptic received a strategic investment from HSBC, becoming the first company to gain support from four major global banks

ChainCatcher news, blockchain analytics company Elliptic announced that it has received a strategic investment from HSBC, becoming the first industry company to gain support from four global systemically important banks (G-SIBs), with the other three being JPMorgan Chase, Santander, and Wells Fargo.

Richard May, Head of Financial Crime at HSBC Group, will join the board of Elliptic. Elliptic stated that this investment will be used to expand the team and the coverage of financial services to meet the growing demand from financial institutions for blockchain transaction monitoring tools. The company's key focus areas include stablecoin regulation, AI-driven compliance tools, and the expansion of blockchain network coverage.