Elliptic Secures Investment from HSBC
Elliptic, a leading player in the realm of blockchain analytics, has achieved a significant milestone by attracting investment from HSBC. This development cements its status as the sole analytics firm in the blockchain sector with backing from four of the world’s trailing systemically important banks (G-SIBs), which include JPMorgan Chase, Santander, and Wells Fargo in addition to HSBC. The recent influx of funds comes as a response to the escalating interest in stablecoins and tokenized assets from major financial institutions.
Appointment of Richard May
In conjunction with the investment announcement, HSBC’s Richard May, who serves as the Group Head of Financial Crime for Corporate and Institutional Banking, has been appointed to Elliptic’s board of directors. He noted that as digital assets and currencies rapidly evolve, the necessity of addressing financial crime risks is more crucial than ever.
“Elliptic’s platform enhances HSBC’s transparency, which is vital for meeting increasing regulatory demands and industry norms,”
May stated.
Elliptic’s Growth and Innovations
Elliptic’s performance has been remarkable in 2025, with the company citing exceptional growth in customer numbers and revenues in the second quarter. The financial boost from HSBC is anticipated to propel Elliptic into its next growth phase, particularly as traditional banks seek to expand their involvement with digital assets. One of the firm’s recent innovations is the Issuer Due Diligence product, aimed at helping banks assess stablecoin issuers and manage risks linked to digital wallets prior to committing reserves. This offering is indicative of the rising need for institutional-level risk management as banks gear up for the transformation of their operations around digital assets.
Strategic Vision and Compliance
CEO Simone Maini commented on the strategic foresight of the company, stating,
“Elliptic was developed with this pivotal moment in the market in mind. We have been preparing for institutional adoption for over a decade, establishing the necessary infrastructure to cater to that need.”
Maini underscored that the company’s commitment to compliance, scalability, and real-time data analysis has positioned it as a preferred partner among financial institutions navigating the intersection of cryptocurrency and regulatory environments.
Impact of Investment on Credibility
The investment from four significant global banks bolsters Elliptic’s credibility, particularly as regulatory bodies intensify enforcement and governance in the sector. As enthusiasm for digital assets continues to surge, this collaboration marks a crucial step towards integrating blockchain technology into conventional banking systems.
Rise in Cross-Chain Criminal Activity
In a related note, Elliptic recently reported that cross-chain criminal activity has skyrocketed to over $21 billion as of 2025—three times higher than the previous year. Criminal enterprises are increasingly leveraging decentralized exchanges, token swap services, and cross-chain bridges to mask the origins of illicit funds. Notably, around 33% of crypto crime incidents now involve multiple blockchains, highlighting the increasing complexity of these illicit operations. Organizations linked to state actors, such as North Korea’s Lazarus Group and groups from Iran and Russia, are utilizing sophisticated evasion tactics, including swift cross-chain transactions and anonymization technologies to dodge sanctions and evade law enforcement actions.
Elliptic’s Role in Combating Crypto Crime
The takedown of the Garantex exchange in March 2025 was a significant example of how Elliptic’s analytics tools can be employed in these contexts. Furthermore, the firm’s report notes a series of scams tied to the memecoin phenomenon, including the infamous $LIBRA rug pull that spurred from a tweet by Argentina’s President Javier Milei. As real-time fraud detection becomes more complicated, Elliptic asserts that advancements in cross-chain analytics empower investigators to trace assets across 55 distinct blockchains and approximately 300 bridging routes.
