Bank Wells Fargo invested in the service to analyze the blockchain Elliptic

Analytical company Elliptic raises $28 million during investrend series B. part of the amount — $5 million investment one of the largest U.S. banks Wells Fargo, writes CoinDesk.

Elliptic funds raised will be spent on the opening of the Asian branch and hiring employees to sell its new product Discovery. The service helps cryptocurrency exchanges to establish cooperation with the traditional banking system.

Discovery provides information on more than 200 exchanges around the world: the presence of sites of KYC/AML procedures, their accountability to local regulators.

«Banks is difficult to identify the exchange, working in the legal field. Using data Discovery, banks will be able to study all the risks and to choose the exchange with which they can safely conduct business», – said the company.

Wells Fargo became the first U.S. Bank to support Elliptic. In September 2019 the company has already raised $23 million from a Japanese Corporation SBI Holdings.

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