Bitcoin Company Elliptic Earns "Bank-Level" Accreditation
Bitcoin storage firm Elliptic has received accreditation from "Big Four" accounting firm KPMG, and is now considered to be operating on the same level as a custodian bank. As Elliptic CEO James Smith explains: "KPMG's accreditation is an important milestone, as it demonstrates our commitment to delivering both best-in-class technology and deep operational expertise... This report demonstrates to our customers that we have the rigorous internal processes and controls expected of any traditional financial services provider... Combined with our comprehensive insurance protection, they provide....
Related News
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.....
Digital currency storage service Elliptic has obtained ISAE 3402 accreditation - a global standard for financial reporting - from auditing specialist KPMG. The ISAE 3402 Type 1 or SOC1/2 review scrutinises various aspects of a business, including financial controls, regulatory compliance including AML and KYC measures, financial controls, code deployment, disaster recovery, segregation of duties and offline bitcoin storage techniques. The UK-based storage provider says it is the first bitcoin company to receive the accreditation and that ISAE 3402 indicates that the firm operates with the....
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....
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....
London-based Bitcoin Blockchain surveillance and forensic compliance intelligence startup Elliptic has secured $5 million in a Series A funding round led by Paladin Capital Group. The round also gained support from Santander InnoVentures, KRW Schindler, Digital Currency Group and existing investor, Octopus Ventures. A press release by Elliptic has announced that the firm has raised $5 million in Series A funding round. The new capital, according to the announcement will help enable Elliptic to further strengthen its position as a leading player in blockchain compliance, fraud detection and....