Elliptic Gets $2 Million Investment From Octopus For Vault Service
Bitcoin storage specialists Elliptic have reportedly raised $2 million in investment capital from Octopus Investments. Elliptic is the first United Kingdom-based company involved with bitcoin to receive a major investment such as this one. The company, launched approximately six months, is looking to offer digital asset services, primarily for businesses and financials institutions. One such service is Elliptic Vault, a storage solution that's fully-insured and as one would expect, highly secure. "We want to make it very easy for companies to use. If they're used to other types of....
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UK-based digital asset services company Elliptic, best known for its Elliptic Vault product offering, has announced $2m in seed-funding from Octopus Investments. With the funding, Elliptic will be able to further its product development and strengthen its foothold as the trusted provider of enterprise digital assert services in the British market. It will soon offer a set of enterprise services meant to reconcile traditional finance and digital assets. "We're seeing a clear trend of highly-skilled fintech talent seeking opportunities in forward-thinking tech companies, rather than....
The relationship between Lloyd's of London and bitcoin storage service Elliptic Vault broke down just weeks after Elliptic's launch in January, it has emerged. Elliptic Vault was the first insured bitcoin storage service in the world and was widely hailed as a milestone for the industry. The exact details of how the relationship between Lloyd's and Elliptic broke down are unclear, with Elliptic COO Tom Robinson saying his impression was that Lloyd's pulled out "due to the high level of publicity" around the deal. In turn, a Lloyd's spokesperson claimed Elliptic never actually finalised the....
Some enterprising minds and one of the world’s biggest insurance markets is opening a pretty futuristic bank vault in London. But it’s not futuristic for having fancy locks or laser trip wires. It’s futuristic because of what’s inside: Bitcoin. The idea of a bitcoin bank vault seems a little silly at first. Bitcoin is a virtual currency, so why would you need a vault? Well, the new company, Elliptic Vault, is actually billing this new offering as a “deep cold storage” service that not only protects your bitcoin fortune but also insures it in the event of loss or theft. Specific details of....
Safe. This is the conclusion drawn by KPMG, who gave a precious ISAE 3402 accreditation to the bitcoin cold storage firm Elliptic. The company secures its customers' bitcoin through the combined use of strong encryption procedures and secure physical locations disseminated all over the world. Also read: Elliptic Vault In The United Kingdom Is Offering Fiat Denominated Bitcoin Insurance. A Major Milestone for Eliptic. In a statement published earlier this week, Elliptic's CEO James Smith welcomed the certification his company just received: "KPMG's accreditation is an important milestone.....
The world's first insured bitcoin storage service has launched in the UK, with insurance underwritten by Lloyd's of London. Named Elliptic Vault, the service uses advanced "deep cold storage" techniques to secure its customers' bitcoins. Deep cold storage involves the use of both strong encryption and secure physical locations. Tom Robinson, co-founder of Elliptic, which is based in London, said: "Securing your bitcoins involves implementing advanced encryption and even then you are still at risk of losing them. Elliptic Vault secures your bitcoins for you and is insured against theft or....