RATE Group | Elliptic Launches Tool to Connect Banks with Cryptocurrency Exchanges
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Elliptic Launches Tool to Connect Banks with Cryptocurrency Exchanges

12 Dec Elliptic Launches Tool to Connect Banks with Cryptocurrency Exchanges

Posted at 00:12h in Cryptocurrency News by

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London-based cryptocurrency compliance firm Elliptic has launched a new tool that allows banks to work more closely with crypto exchanges.

Dubbed Elliptic Discovery, the product collects detailed profiles of more than 200 global crypto exchanges to enable banks to manage risks associated with crypto transactions, Business Insider reports Dec. 11.

Elliptic Discovery includes data collected since 2013

Designed specifically for banks, Elliptic Discovery reportedly provides compliance teams with necessary insights to identify flows of funds on crypto assets and assess risks including money laundering. The tool is reportedly based on Elliptic’s data that was collected since 2013 and offers a wide range of identifiers and risk indicators in terms of exposure to crypto-assets through exchanges, the report notes.

James Smith, CEO and co-founder at Elliptic, noted that the new tool is created to address the existing lack of visibility into the crypto-asset ecosystem by banking…

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