Singapore/Hong Kong, 9 December 2021 – Elliptic won Best Solution in Digital Asset Compliance & Analytics in the 4th Regulation Asia Awards for Excellence 2021 at an online ceremony on 9 December 2021.
Elliptic was recognised for its broad spectrum of services designed to help cryptoasset business meet AML/CTF requirements, covering everything from onboarding and screening to customer monitoring and investigations. Elliptic Navigator brings powerful tracing capabilities and configurable risk rules to enable a consistent and accurate understanding of the source and destination of funds for more than 150 cryptoassets. Users can configure risk rules to include different triggers to monitor risks such as sanctioned entities or geographical risk, providing an extra layer of control.
Elliptic Lens provides tools to evaluate and assess risks of cryptoasset wallets across multiple blockchains and counterparties, and can be used when onboarding clients, evaluating a counterparty, or screening wallets. Elliptic Discovery provides compliance teams with insights to identify the flow of funds into and out of cryptoasset exchanges and banks, allowing them to assess risk in real-time. An integrated graph explorer can be used to show the blockchain path and hops taken between counterparties to a transaction.
Meanwhile, Elliptic Forensics brings greater transparency into transactions, wallets and addresses, providing a map of the source and destination of cryptoasset funds. The solution’s automated tracing features also provide real-time insights into potential high-risk transactions. To further facilitate AML/CTF compliance in the industry as a whole, Elliptic also offers professional services through which it guides and supports financial institutions, cryptoasset exchanges and investors in areas such as due diligence, policy design, risk assessment and remediation.
Elliptic’s multi-asset blockchain data covers millions of addresses, underpinned by its robust data collection and validation methodologies that constantly uncover new types of illicit activity. Since 2013, Elliptic has collected more than 20 billion data points, making it one of the most extensive sets of cryptoasset network data. “Elliptic’s impressively large database of addresses offers a way for compliance professionals to determine the ultimate source of funds, which has long been a challenge for the crypto industry as a whole,” noted a judge on the awards panel. “No doubt it will play a key role to bring the crypto industry across jurisdictions into compliance with AML rules.”
Elliptic currently serves over 180 clients across 45 countries, including global banks, law enforcement agencies, regulators, cryptoasset exchanges, payment processors, and central banks. Through industry partnerships, Elliptic has also recently launched a digital asset compliance course in Singapore.
About the Regulation Asia Awards for Excellence 2021
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help to ensure the highest standards for regulatory compliance are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.
For a full list of the award 2021 winners, visit www.regulationasia.com/awards.
About Regulation Asia
Regulation Asia is the leading source for actionable regulatory intelligence for Asia Pacific markets. With over 12,000 subscribers, including regulatory bodies, exchanges, banks, asset managers and service providers, Regulation Asia plays a key role in shaping the regulatory agenda.