Blockchain analytics firm Elliptic secures strategic investment from HSBC, expanding the bank's support for blockchain analytics.

Blockchain analytics company Elliptic announced a strategic investment from HSBC, becoming the first industry company to receive backing from four global systemically important banks (G-SIBs), joining JPMorgan Chase, Santander, and Wells Fargo. Richard May, HSBC's head of financial crime, will join Elliptic's board of directors. Elliptic stated that the investment will be used to expand its team and financial services coverage to meet the growing demand from financial institutions for blockchain transaction monitoring tools. The company's focus areas include stablecoin regulation, AI-driven compliance tools, and expanding blockchain network coverage.