The fourth-largest Bank in the U.S. invested in Bitcoin Risk management company

The traditional banks get more and more of a Zero tolerance Position in relation to Bitcoin (BTC) and crypto-currency. Interesting developments in the field of new laws which are soon to be launched are also.

While bankers examine on the world-the rise of crypto, to assess how you can interact with innovators in contact and how you can make with crypto familiar, Wells Fargo announced the fourth largest Bank in the United States with assets under management of 503 billion dollars, the support of Elliptic, a leading provider of crypto-Asset Risk Management solutions for financial institutions. Wells Fargo Strategic Capital (WFSC) invested $ 5 million in the financing round of series B of the Elliptic, which amounts to a total of $ 28 million.

The WFSC investment is Elliptic’s support product Elliptic Discovery. The risk management Tool that helps banks in the wild West of cryptography to navigate by keeping compliant institutions from the unregulated entity, and the risk of stock market Hacks and stolen funds reduced. Elliptic takes (freely translated):

Elliptic Discovery has been specifically developed for banks and provides the Compliance team with the necessary insights to identify money flows in and out of cryptic’s assets, and to evaluate the associated risk. Detailed Profiles of more than two hundred global crypto-exchanges will enable them to manage risks, pursue new opportunities and to meet strict legal requirements.

In the face of turbulent episodes, such as the Mt. Gox Hack, the silk road investigation, the Binance Hacks and several other top-class security and Compliance gaps, the currencies, the Crypto with hackers, Criminals and billions of contaminated or stolen Bitcoin, Ethereum, and other digital assets in conjunction, develop, the industry leader in tools that help to distinguish the Blockchain technology to bad actors.

The aim is to support Innovation and close the types of loopholes that bring to the industry with the darkness or the financing of terrorism in connection. Through the production of advanced Tools that provide a verifiable proof of identity for the leading crypto-currencies such as Bitcoin, Ethereum, Bitcoin, Cash and Litecoin, plays Elliptic a key role in the legitimisation of the area and Bridging the gap between the old players and the crypto-operated digital economy.

James Smith, CEO, Elliptic, says the company, enabling the banks to a risk-based approach in that it sheds light on the crypto-Asset activity for your customers.

For too long the lack of insight of the banks in the crypto-Asset-Ecosystem has led to a Zero-tolerance to this emerging asset class. This has frustrated your customers, while they are blind to the actual risks associated with their involvement in crypto-Assets.

Supported by the SBI group, AlbionVC, signal fire, Octopus Ventures and Santander Innoventures, speaks to Elliptic, the grey zone, the US President, Donald Trump, the US Treasury Secretary Steven Mnuchin, and many other leading politicians of the world has led to discredit crypto-currencies as instruments that facilitate the crime and your benefit. Through the demystification of crypto exchanges and complex transactions, the London-based Blockchain-forensics company working to create a gate through which the old actors with Confidence in the space can occur.

Report of the Elliptic analyze trillions of crypto-transactions and blankets-laundering, illegal Transfers in connection with money, to donations of collections of terrorists, fraud and other financial crimes.