Elliptic, Fireblocks Team up to Enhance Compliance & Security
- The two companies will provide their respective solutions to help joint users identify and take action on risky transactions
On-chain Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term company Elliptic is partnering with institutional digital-asset security specialist Fireblocks to integrate its risk screening solutions in order to monitor crypto transactions within the platform.
Announced today, the partnership will strengthen Fireblocks' security standards and Anti-Money Laundering (AML) Anti-Money Laundering (AML) Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Read this Term) compliance. Also included are Elliptic’s analytic tools designed to help uncover and block activities related to money laundering, terrorist fundraising, fraud, and other financial crimes.
The two companies will provide a package of their respective solutions to allow joint customers to identify and take action on potentially risky transactions. Furthermore, the ability to more easily comply with AML standards could prove to be a cost-saving measure for both crypto firms and other players in the space.
Elliptic’s product helps banks to assess hundreds of crypto exchanges operating worldwide. Called ‘Elliptic Discovery,’ this solution is purpose-built to enable users to identify crypto exchanges that are complying with strict regulatory standards. Discovery boasts a database of hundreds of exchanges, collected since 2013, including their owners, jurisdiction, regulatory status, and compliance policies.
“By adding Fireblocks to our partner network, our institutional customers can have absolute peace of mind knowing they are protected from financial crime with strengthened crypto risk monitoring and security when moving funds between exchanges, hot wallets, custodians, and counter-parties”, says Andrea Ramoino, VP of Product at Elliptic.
Fireblocks Onboards New Institutions
Fireblocks is backed by Tenaya Capital, Fidelity’s investment arm Eight Roads, and counts Galaxy Digital, Celsius, Genesis, and other large institutional players as clients. The company supports over 180 tokens and has obtained access to more than 20 major exchanges that are reportedly moving nearly $2.5 billion in digital assets each month.
Fireblocks’ technology, dubbed ‘Secure Transfer Environment,’ allows for trading digital assets between exchanges, wallets, custodians, and counterparties while meeting all enterprise security requirements. It offers safe transitions of crypto assets between those providers and claims to eliminate the theft of private keys or compromise of API keys and deposit addresses using the chip isolation technology (SGX).
Fireblocks also tried to present several different cases for its users, like earning passive income or safeguarding assets. Most recently, it partnered with the DeFi platform to offer OTCs, exchanges, and funds to deploy assets onto a Compound and earn 3% to 7% interest.
“By partnering with the top AML and crypto compliance firms like Elliptic, we are now delivering a complete digital asset infrastructure from which our customers can launch digital asset products and services that meet enterprise-level standards across security and compliance,” added Rob Salman, VP of Business Development.
On-chain Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term company Elliptic is partnering with institutional digital-asset security specialist Fireblocks to integrate its risk screening solutions in order to monitor crypto transactions within the platform.
Announced today, the partnership will strengthen Fireblocks' security standards and Anti-Money Laundering (AML) Anti-Money Laundering (AML) Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Read this Term) compliance. Also included are Elliptic’s analytic tools designed to help uncover and block activities related to money laundering, terrorist fundraising, fraud, and other financial crimes.
The two companies will provide a package of their respective solutions to allow joint customers to identify and take action on potentially risky transactions. Furthermore, the ability to more easily comply with AML standards could prove to be a cost-saving measure for both crypto firms and other players in the space.
Elliptic’s product helps banks to assess hundreds of crypto exchanges operating worldwide. Called ‘Elliptic Discovery,’ this solution is purpose-built to enable users to identify crypto exchanges that are complying with strict regulatory standards. Discovery boasts a database of hundreds of exchanges, collected since 2013, including their owners, jurisdiction, regulatory status, and compliance policies.
“By adding Fireblocks to our partner network, our institutional customers can have absolute peace of mind knowing they are protected from financial crime with strengthened crypto risk monitoring and security when moving funds between exchanges, hot wallets, custodians, and counter-parties”, says Andrea Ramoino, VP of Product at Elliptic.
Fireblocks Onboards New Institutions
Fireblocks is backed by Tenaya Capital, Fidelity’s investment arm Eight Roads, and counts Galaxy Digital, Celsius, Genesis, and other large institutional players as clients. The company supports over 180 tokens and has obtained access to more than 20 major exchanges that are reportedly moving nearly $2.5 billion in digital assets each month.
Fireblocks’ technology, dubbed ‘Secure Transfer Environment,’ allows for trading digital assets between exchanges, wallets, custodians, and counterparties while meeting all enterprise security requirements. It offers safe transitions of crypto assets between those providers and claims to eliminate the theft of private keys or compromise of API keys and deposit addresses using the chip isolation technology (SGX).
Fireblocks also tried to present several different cases for its users, like earning passive income or safeguarding assets. Most recently, it partnered with the DeFi platform to offer OTCs, exchanges, and funds to deploy assets onto a Compound and earn 3% to 7% interest.
“By partnering with the top AML and crypto compliance firms like Elliptic, we are now delivering a complete digital asset infrastructure from which our customers can launch digital asset products and services that meet enterprise-level standards across security and compliance,” added Rob Salman, VP of Business Development.