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