Zug-based crypto financial services firm Bitcoin Suisse announced today that it has selected Elliptic Navigator and Elliptic Lens from Elliptic, a crypto asset risk management solutions provider, to enhance the accuracy and efficiency of its work in crypto compliance monitoring.
Elliptic’s enterprise solutions will be used to screen transactions and wallets to detect and investigate financial crime to create a safe platform for crypto financial services and meet AML as well as other regulatory obligations, Bitcoin Suisse revealed.
Lars Hodel, head of legal and compliance at Bitcoin Suisse explained that Elliptic’s services provide the firm with the kind of robust and adaptable tools that it needs to meet the exacting standards we have set for AML compliance.
“We really value their transparent scoring capabilities and detailed transaction overview, as well as the extensive coverage of cryptocurrencies supported,” he said.
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“Elliptic works with precision focus to build the solutions needed by crypto asset businesses to grow their companies while protecting themselves and their customers from financial crime. We welcome Bitcoin Suisse as a customer as they set the standard for compliance in the crypto financial services industry,” Simone Maini, CEO of Elliptic, noted.
“Bitcoin Suisse has been a pioneer in the development of the crypto market, leading the way in establishing a compliance-based culture to grow with confidence, a value Elliptic closely identifies with,” she added.
Elliptic: Shaping the crypto ecosystem in Switzerland
Bitcoin Suisse have been instrumental in shaping the crypto ecosystem in Switzerland, including the development of ‘Crypto Valley’ and ‘Crypto Nation Switzerland’. By implementing Elliptic for crypto AML compliance, Bitcoin Suisse are focused on expanding their technical capabilities for compliance to support their Swiss and international expansion. Their growth trajectory includes applying for a Swiss banking license in addition to one in Liechtenstein with the goal to broaden their current offering of, among other services, prime brokerage, lending and institutional-grade crypto custody.
Recently, Elliptic expanded its crypto asset coverage to monitor over 97% of crypto transactions by trading volume, the most comprehensive service in the market, ensuring compliance teams can operate efficiently and with pinpoint accuracy to detect and prevent financial crime.
The company was also recently recognized by the World Economic Forum as one of the 100 top firms worldwide pioneering new technology.