London-based Elliptic, a Bitcoin surveillance start-up that uses AI to scan the cryptocurrency network and detect potential money laundering, has raised $5m (£3.5m) from private equity group Paladin Capital, Santander and venture capitalists Octopus Ventures. The company is working with law enforcement agencies in several countries including Spain, France, Germany, Italy, Spain and Switzerland.
London-based Elliptic, a Bitcoin surveillance start-up that uses AI to scan the cryptocurrency network and detect potential money laundering, has raised $5m (£3.5m) from private equity group Paladin Capital, Santander and venture capitalists Octopus Ventures. Called a "game-changer for blockchain," the company has already processed around $2bn in transactions and plans to sell its software to large banks and expand in the US.