Elliptic to Raise $23M During New Financing Round

The Series B financing round was headed by the the SBI Holdings and attended by AlbionVC, SignalFire and others 
04 September 2019   996

Elliptic, a company specializing in tracking transactions on public blockchains, raised $ 23 million following the results of the Series B financing round, which was headed by the Japanese corporation SBI Holdings.

Other investors include AlbionVC, SignalFire, Octopus Ventures and Santander Innoventures.

So, Elliptic intends to gain a foothold in the Asian markets. The company has already opened an office in Singapore and plans to open another one in Japan this week. Note that representatives of SBI Holdings and AlbionVC will be members of the board of directors.

Elliptic founder and CEO James Smith explained the choice of jurisdictions with the progressive views of regulators and the existence of licensing procedures. The company intends to first gain a foothold in Japan, and then conquer the rest of Asia.

He emphasized that SBI Holdings will use Elliptic products that use AI and machine learning, both in its exchange business (VCTrade) and in custodial. In addition, SBI Holdings (a major holder of XRP) believes that the company is best suited for tracking transactions on the Ripple network.

It is also known that Elliptic is developing monitoring services for Libra from Facebook and digital currencies from central banks (CBDC).

We add that in the framework of the seed and funding rounds of Series A, the company has raised a total of $ 12 million over the past five years.

French Gendarmerie to Use Tezos Blockhain

Gendarmerie Cybercrime Division (C3N) is "validating judicial expenses" with Tezos blockchain
21 November 2019   71

The French Gendarmerie Cybercrime Division (C3N) uses the Tezos blockchain. The agency launched its first smart contract in September.

According to a press release, C3N uses blockchain to control the costs incurred during investigations.

Debuting on the Tezos network, this is one of the first examples of a government entity using a smart contract for operational purposes. The new program allows C3N to acquire cryptocurrency from Europol-allocated funds in order to cover operational costs.
 

Nomandic Labs

The new program also allows C3N to purchase cryptocurrency with funds allocated by Europol to cover operating expenses.

The statement noted that the smart contract was specifically designed so that C3N confirms costs without the risk of disclosing operational activities and problems for ongoing investigations.