Deutsche Bank participated in a $120 million Series D funding round for blockchain analytics firm Elliptic. The investment values the company at $670 million. One Peak Partners led the round alongside Nasdaq Ventures and existing investor JPMorgan.
The move signals Deutsche Bank’s increasing commitment to digital asset infrastructure and security. The bank previously entered the space by providing banking and foreign exchange services to cryptocurrency firms.
Elliptic will use the new capital to expand its global operations and drive service adoption. The firm currently screens more than one billion transactions every week. Hundreds of customers use the platform to monitor activity across numerous blockchains.