Elliptic Launches Elliptic Discovery, Enabling Banks to Identify and Assess their Exposure to Crypto-Assets, and Work More Closely with Crypto Exchanges

LONDON and NEW YORK, Dec. 11, 2019 /PRNewswire/ -- Elliptic, the leading provider of crypto-asset risk management solutions for financial institutions, today announces the launch of Elliptic Discovery. Purpose-built for banks, Elliptic Discovery provides compliance teams with the insights they need to identify flows of funds into and out of crypto-assets and assess the risk that they pose. Detailed profiles of over two hundred global crypto exchanges will enable them to manage risk, pursue new opportunities, and meet stringent regulatory requirements.

Built on Elliptic's unparalleled data, collected since 2013, Elliptic Discovery offers a broad range of identifiers and risk indicators to allow banks to identify and assess the risk posed by their exposure to crypto-assets through these exchanges. This includes information about these businesses' corporate entities, jurisdiction, regulatory status, compliance policies as well as blockchain insights into the provenance of crypto-assets that they have handled.

With Elliptic Discovery, banks can now navigate the rapidly-evolving crypto ecosystem with confidence to:

    --  Understand their overall exposure to crypto-assets, through their
        customers' activities.
    --  Identify customers whose crypto-asset activities pose heightened money
        laundering or sanctions risks.
    --  Assess the risk profiles and KYC procedures of different crypto-asset
        exchanges, and enable them to work more closely with these businesses.

"For too long, banks' lack of visibility into the crypto-asset ecosystem has led to zero-tolerance for this emerging asset class. This has frustrated their customers, while they have remained blind to the actual risks posed by their exposure to crypto-assets. Elliptic Discovery changes that by enabling banks to shine a light on their customers' crypto-asset activity and take a risk-based approach," said Dr. James Smith, CEO and Co-founder, Elliptic. "Not all crypto-asset exchanges are alike and Elliptic Discovery will allow banks to make this distinction and seize the opportunity to work more closely with these businesses, based on an evidence-based assessment of the risk."

Elliptic Discovery was developed in close cooperation with a number of financial institutions, including many of Elliptic's investors and current customers. These banks had expressed a growing desire to understand and better manage their interactions with crypto businesses. Elliptic Discovery will increase transparency between traditional financial institutions and crypto businesses to benefit both sides, and grow the crypto market by equipping them with the insights they need to manage their risk based on their own criteria.

To learn more about Elliptic Discovery, see here.

About Elliptic:
Elliptic is the global leader in crypto-asset risk management solutions for crypto-asset businesses and financial institutions worldwide. Backed SBI Group, AlbionVC, SignalFire, Octopus Ventures, and Santander Innoventures, Elliptic has assessed risks on transactions worth several trillion dollars, uncovering activities related to money laundering, terrorist fundraising, fraud, and other financial crimes. Elliptic is headquartered in London with offices in New York, Singapore, and Tokyo. To learn more, visit www.elliptic.co and follow us on LinkedIn and Twitter.

Press Contact:
Will McCormick
Pure Knot Communications
elliptic@pureknot.com

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SOURCE Elliptic