Elliptic Raises $120M to Expand AI for Stablecoins

Elliptic, a London-based blockchain analytics company, announced a $120 million Series D led by One Peak Partners, with Deutsche Bank, Nasdaq Ventures and the British Business Bank among investors. The round values the firm at about $670 million and brings total capital raised to roughly $224 million since its 2013 founding.

Elliptic said it will use the funding to expand its AI-driven analytics for transaction monitoring of stablecoins and tokenized assets and to scale machine learning models to handle higher transaction volumes and specialized detection rules.

The company processes more than 1 billion transactions each week across over 65 blockchains and serves more than 700 clients in about 30 countries, including banks and government agencies. Customers use the platform for sanctions screening, anti-money-laundering checks and counter-terrorism financing controls on crypto flows.

Stablecoins are a central focus because they are commonly used for cross-border payments, remittances and trade finance, and those transactions frequently involve multiple jurisdictions that require screening for sanctioned addresses and suspicious patterns. Elliptic plans to enhance AI models to increase the speed and accuracy of those screening processes as volumes rise.

Tokenized assets are another target area. Asset managers and financial firms are issuing tokenized versions of securities and funds, and market participants and regulators expect compliance checks similar to those applied in traditional markets. Elliptic aims to develop tools to trace ownership, detect anomalous flows and support audit trails for tokenized instruments.

Elliptic competes with companies such as Chainalysis and TRM Labs. Chainalysis has raised more capital and holds a larger share of the U.S. market, while TRM Labs counts investors that include Goldman Sachs.

Regulatory frameworks are tightening in multiple regions. The EU’s Markets in Crypto-Assets rules are rolling out, several Asian jurisdictions are implementing licensing regimes, and the UK is developing its own crypto framework. Those developments are increasing demand for compliance technology with broad geographic coverage.

The company did not disclose detailed revenue figures in its announcement. Management identified product development and scaling as priorities for the fresh funding, with a focus on handling higher throughput and building specialized detection capabilities for stablecoins and tokenized asset markets.