Blockchain analytics firm Elliptic has secured a strategic investment from HSBC, one of the world's largest banks. This investment makes Elliptic the only blockchain analytics provider backed by four globally systemically important banks (G-SIBs), joining existing investors JPMorgan Chase, Santander, and Wells Fargo.
As part of the deal, Richard May, HSBC's Group Head of Financial Crime for Corporate and Institutional Banking, will join Elliptic's board of directors. May emphasized that "mitigating financial crime risks has never been more important" in the digital asset space, and Elliptic's tools provide transparency to meet regulatory standards.
The funding will accelerate Elliptic's expansion, focusing on enhancing its blockchain coverage and compliance solutions. The company reported record-breaking customer and revenue growth in Q2 2025, driven by rising institutional interest in stablecoins and tokenized assets. Elliptic recently launched an Issuer Due Diligence tool to help banks assess stablecoin issuer risks before holding reserves.
In a related context, Elliptic's latest research reveals that cross-chain criminal activity surged to over $21 billion in 2025, tripling from the previous year, highlighting the urgent need for advanced analytics. CEO Simone Maini stated that the HSBC partnership validates Elliptic's decade-long focus on building infrastructure for institutional adoption.