Blockchain Analytics Firm Elliptic Secures HSBC Investment, Now Backed by Four Megabanks

Elliptic, a prominent provider of blockchain analytics tools, has secured investment from HSBC, marking its entry into an exclusive club.

It is now the only blockchain analytics firm to be backed by four globally systemically important banks (G-SIBs): HSBC, JPMorgan Chase, Santander, and Wells Fargo.

The investment comes amid rising interest from financial institutions in stablecoins and tokenized assets.

HSBC’s Richard May Joins Elliptic Board Following Strategic Investment

As part of the announcement, HSBC’s Richard May, Group Head of Financial Crime for Corporate and Institutional Banking, has joined Elliptic’s board of directors.

“With the rapid evolution of digital assets and currencies, mitigating financial crime risks has never been more important,” May said.

“Elliptic’s solution provides HSBC with greater transparency, helping to meet rising regulatory expectations and industry standards.”

Elliptic has seen significant traction in 2025, reporting record-breaking customer and revenue growth in Q2.

The HSBC investment is expected to help fuel its next phase of expansion, especially as global banks deepen their exposure to digital assets.

The company recently introduced a product called Issuer Due Diligence, a solution designed to help banks evaluate stablecoin issuers and manage associated wallet risk before adding reserves.

The tool reflects growing demand for institutional-grade risk management as banks prepare to integrate digital assets into their core operations.

“Elliptic was built with this exact moment in mind,” said CEO Simone Maini. “We’ve anticipated institutional adoption for over a decade and built the infrastructure required to meet that demand.”

Maini emphasized that the firm’s long-term focus on compliance, scalability, and real-time analytics has positioned it as a go-to partner for financial institutions seeking to bridge crypto and regulatory frameworks.

The strategic backing by four global megabanks adds further legitimacy to Elliptic’s offerings, especially as regulators step up enforcement and oversight.

With interest in digital assets growing across the board, the partnership signals deeper integration of blockchain tools within traditional banking infrastructure.

Cross-Chain Crypto Crime Hits $21B: Elliptic

Cross-chain criminal activity has surged to over $21 billion in 2025, tripling from the previous year, according to Elliptic’s latest report.

Criminals are increasingly using decentralized exchanges, token swap services, and cross-chain bridges to obscure the origin of stolen funds.

Chain-hopping has become a standard tactic, with 33% of crypto crime cases now involving more than three blockchains.

State-backed actors like North Korea’s Lazarus Group and Iranian and Russian entities are heavily implicated.

These groups are using advanced obfuscation methods, including rapid cross-chain swaps and anonymizing services, to evade sanctions and law enforcement. Notably, the Garantex exchange was taken down in March 2025 using Elliptic’s data.

The report also highlights a wave of scams during the memecoin boom, including the $LIBRA rug pull following a tweet from Argentine President Javier Milei.

Elliptic warns that real-time frauds are getting harder to catch, but advances in cross-chain analytics now allow investigators to trace assets across 55 blockchains and over 300 bridge routes.

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