Wells Fargo pumps $5M in blockchain analytics firm Elliptic

Investing division of the third-largest US bank Wells Fargo Strategic Capital has invested $5 million in blockchain analytics firm Elliptic, making it the first US bank to do so. Last September, Japanese banking group SBI Holdings led Elliptic’s $23 million round, and Spanish bank Santander is also an investor in the firm via its InnoVentures unit.

Elliptic’s total funding to date is $40 million.

Elliptic is now looking to expand in Asia and hire resources to sell its newly launched Discovery solution, which helps banks to decide which crypto exchanges to do business with.

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