Elliptic received a $ 5 million investment

Specializes in the monitoring of Bitcoin transactions Startup Elliptic has received a 5 million US dollar heavy investment in an A-round financing. The donor is a private equity company with close contacts to the US Defense Department and the Secret Service. The financing round was led by the Paladin Capital Group, and the Santander Innoventures, KRW Schindler, the Digital Currency Group and Octopus Ventures were part of it.

For leadership of the Paladin Capital Group belongs among others also the former director of the Internal Security Agency and the retired Lieutenant General Kenneth Minihan. According to the company website Paladin invests primarily in companies that are active in the field of national security and cyber security. Miniahn has already indicated that Paladin will also be providing lobbying the US Attorney’s Office.

The UK-based startup had already received in 2014 for an insured Bitcoin Storage Service 2 million US dollars. Elliptic co-founder and CEO Dr. James Smith said the funding round will support Elliptic especially at the expansion plans:

“Our new investors bring a great knowledge in law enforcement, the international financial services and the blockchain technology in our company. We look forward with them to be able to work on our next stage of growth together. We were able to successfully gain a foothold in the US and we will expand our product portfolio. “

The investment comes at a time in the international regulators, particularly in Europe, put a great emphasis on the monitoring of Bitcoin transactions. The focus will be in particular Bitcoin exchanges, where you can exchange issued by the government fiat currencies in Bitcoin.

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