LONDON and NEW YORK, May 20, 2020 /PRNewswire/ -- Elliptic, the global leader in cryptoasset risk management solutions, today launched support for 87 additional cryptoassets. Elliptic's clients can now assess risk on transactions across more than 100 different assets - including cryptocurrencies, stablecoins and tokens. This represents the broadest coverage of any crypto transaction screening solution, with support for over 97% of all cryptoassets by trading volume.
Exchanges and other crypto businesses have added new assets to their offerings, to attract new customers and diversify their revenue streams. When doing so, these businesses must remain compliant with anti-money laundering (AML) and sanctions regulations. This includes implementing transaction screening across these new assets. Hundreds of crypto businesses have adopted Elliptic Navigator to quickly and efficiently screen crypto transactions for risk, and can now do so across an even broader range of assets.
One of the new assets is Binance USD (BUSD), a US dollar-denominated stablecoin approved by the New York Department of Financial Services (NYDFS) and issued in partnership with Paxos. "Elliptic is the clear leader in crypto transaction screening." said Samuel Lim, Chief Compliance Officer at Binance. "Support for BUSD in their compliance products will help us to increase adoption for our stablecoin and maintain regulatory compliance."
"By increasing Elliptic's coverage to over 97% of all cryptoassets by trading volume, we are empowering our customers to grow their businesses, by enabling them to offer services across a broader range of assets," said Elliptic CEO Simone Maini. "Elliptic Navigator empowers compliance teams to simply and efficiently assess risk across the broadest range of crypto transactions, thereby meeting their regulatory obligations."
Over the past seven years, Elliptic has built a reputation for maintaining the most accurate and comprehensive crypto dataset available - ensuring the efficiency of the compliance teams that use its tools. This significant expansion in cryptoasset coverage is the result of a major investment in technology to scale Elliptic's data collection, verification and enhancement processes, while maintaining the same quality standards of accuracy and coverage the company is known for.
Elliptic is the global leader in crypto-asset risk management solutions for crypto businesses and financial institutions worldwide. Backed by investors including Wells Fargo Strategic Capital, SBI Group, and Santander Innoventures, Elliptic has assessed risk 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.