Elliptic raises $120M; Nasdaq, Deutsche Bank invest

Elliptic, a New York-based blockchain surveillance firm, closed a $120 million Series D on May 12, 2026. The round was led by One Peak and values the company at $670 million.

The funding will be used to scale Elliptic’s AI-native onchain compliance and transaction-monitoring platform for banks, fintech firms and government agencies. The company plans to extend monitoring coverage and increase the volume of onchain activity its systems analyze.

Elliptic reported its dataset spans more than 65 blockchains and that its systems scan over 1 billion transactions each week for more than 700 customers in 30 countries. The firm said it intends to expand platform capabilities to track up to $33 trillion in annual stablecoin transaction volume.

The company describes its tools as AI-native, automating initial triage of suspicious activity so investigators can focus on higher-priority cases. Elliptic stated that its automated workflows resolve alerts in minutes rather than hours, which the firm says lowers operational costs for exchanges and other clients.

Institutional investors joined the round alongside existing backers. Nasdaq Ventures and Deutsche Bank participated, and the British Business Bank invested through the British Growth Partnership program. Earlier investors that continued to support Elliptic include AlbionVC, Evolution Equity Partners and JPMorgan.

Gary Offner, senior vice president and head of Nasdaq Ventures, commented, “As digital assets become more embedded in the global financial system, institutions need trusted infrastructure to manage compliance and risk at scale.” Sabih Behzad, global head of digital assets & currencies transformation at Deutsche Bank, added, “The sustainable growth of digital assets depends on strong, institutional-grade risk and compliance foundations.”

Elliptic faces competition from other blockchain analytics firms, including Chainalysis. The company claims its platform now screens a larger portion of the onchain economy than any other private provider, citing its weekly transaction volume and customer footprint.

Elliptic framed the investment as a way to meet growing regulatory and corporate demands for real-time monitoring of tokenized assets and stablecoins. The company noted that its decade-plus dataset and AI tooling are intended to support high transaction volumes and tracing across multiple blockchains.