• About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions
Tuesday, March 21, 2023
  • Login
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Litecoin
    • Ripple
    • Altcoin
    • Stablecoin
    • Press Release
  • Blockchain
  • Business
  • Market Analysis
  • Live Price
  • ICO News
  • Regulation
  • Guide
  • Trading
No Result
View All Result
Crypto Reception
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Litecoin
    • Ripple
    • Altcoin
    • Stablecoin
    • Press Release
  • Blockchain
  • Business
  • Market Analysis
  • Live Price
  • ICO News
  • Regulation
  • Guide
  • Trading
No Result
View All Result
Crypto Reception
No Result
View All Result
Home Blockchain

Santander assesses its crypto exposure | CoinJournal

June 23, 2021
in Blockchain
Reading Time: 2 mins read
0
Santander assesses its crypto exposure | CoinJournal
Share on FacebookShare on TwitterShare on RedditShare on Whatsapp


The bank completed a pilot with crypto asset risk management firm Elliptic to flag suspicious crypto activity

Blockchain analytics and compliance solutions firm Elliptic announced yesterday that it had been working with Santander to help the bank to understand the risks associated with digital assets. Yesterday saw the conclusion of a pilot in which Elliptic helped Santander identify suspicious activity connected with cryptocurrency.

Santander appears to be one of the more blockchain-friendly banks, having published educational material on cryptocurrencies for its customers. Last year, Santander became the first UK bank to use Ripple to develop a real-time cross-border payments system.

Elliptic, which in 2016 received investment from the Santander-backed fintech-focused venture capital firm Mouro Capital, deployed its Discovery solution to detect transactions between Santander customers and cryptocurrency exchanges. The software analyses these transactions in order to evaluate Santander’s indirect exposure to digital assets.

CEO of Elliptic, Simone Maini, commented, “This pilot demonstrates Elliptic’s commitment to helping financial institutions understand their exposure to crypto assets and mitigate crypto anti-money laundering risks. This successful exercise is clear evidence that working with Elliptic enables leading organisations to navigate the rapidly-evolving crypto ecosystem with confidence.”

Elliptic’s Discovery was developed with the collaboration of financial institutions to support their growing crypto needs. It can identify business opportunities by detecting legitimate crypto entities, as well as flagging illicit crypto activity.

Discovery carries out counterparty risk assessments on cryptocurrency exchanges through the use of advanced blockchain analytics and has the most comprehensive virtual asset service provider (VASP) coverage, with risk profiles for more than 200 of the world’s largest VASPs.

The solution covers 97% of crypto transactions by trading volume and was built using an extensive dataset with over 10 billion data points. Discovery gives each VASP an Elliptic score which provides a risk metric.

General Partner at Mouro Capital, Manuel Silva Martinez, added, “Elliptic is one of our oldest investments, and they have been a great partner at helping us navigate the complexities of the distributed ledger technology (DLT) and crypto world. We are excited to see Elliptic’s technology in collaboration with Santander to better understand and protect the bank’s business and customers.”



Source link

Related articles

Top 10,000 Bitcoin investors control one-third of the supply

Top 10,000 Bitcoin investors control one-third of the supply

March 17, 2023
Crypto volatility back to FTX levels, with $791 million of liquidations in 4 days as SVB collapse rocks market

Crypto volatility back to FTX levels, with $791 million of liquidations in 4 days as SVB collapse rocks market

March 13, 2023
Share2Tweet1ShareSend

Related Posts

Top 10,000 Bitcoin investors control one-third of the supply

Top 10,000 Bitcoin investors control one-third of the supply

March 17, 2023
0

Key Takeaways Bitcoin is a decentralised asset, yet large amounts are controlled by a select few The top 114...

Crypto volatility back to FTX levels, with $791 million of liquidations in 4 days as SVB collapse rocks market

Crypto volatility back to FTX levels, with $791 million of liquidations in 4 days as SVB collapse rocks market

March 13, 2023
0

Key Takeaways Crypto volatility is back up to levels last seen when FTX collapsed in November $791 million of...

PODCAST: Has Avalanche solved the blockchain trilemma?

PODCAST: Has Avalanche solved the blockchain trilemma?

February 22, 2023
0

Key Takeaways Avalanche is the world’s fifteenth biggest cryptocurrency by market cap John Nahas, Vice President of Business Development...

Bitcoin rally could be a mirage, writes our Analyst – a Deep Dive

Bitcoin rally could be a mirage, writes our Analyst – a Deep Dive

February 16, 2023
0

Key  Takeaways Bitcoin is up nearly 50% thus far this year, but there have been no positive catalysts from...

Fornax launches blockchain v1.0 with 20 milion coin supply

Fornax launches blockchain v1.0 with 20 milion coin supply

February 9, 2023
0

Fornax, a new player in the decentralized blockchain world, has announced the launch of its blockchain version 1.0 pre-sale....

Load More
  • Trending
  • Comments
  • Latest
Cryptanalysis project Toon Finance Coin will bring larger returns than DOGE & SHIBA INU in 2023 | NewsBTC

Cryptanalysis project Toon Finance Coin will bring larger returns than DOGE & SHIBA INU in 2023 | NewsBTC

December 17, 2022
Crypto Academy CEO Granit Mustafa: blockchain will “redefine digital finance”

Crypto Academy CEO Granit Mustafa: blockchain will “redefine digital finance”

September 23, 2022
Crypto inflows

Exchange Inflows Ramp Up As Crypto Investors Clamor To Exit Market

June 14, 2022
Twitter Begins Massive Layoffs — Elon Musk Says 'No Choice' Citing $4M Loss per Day

Twitter Begins Mass Layoffs — Elon Musk Says ‘No Choice’ Citing $4M Loss per Day – Featured Bitcoin News

November 6, 2022
crypto stocks Bitcoin price

Amid Bitcoin Price Rally, BTC Funds See Major Outflows, This Cohort Is Booking Profits

0
Floyd Mayweather – Boxing Champion Promoted an ICO

Floyd Mayweather – Boxing Champion Promoted an ICO

0
Cannabis Industry Going Crypto | CryptoPost

Cannabis Industry Going Crypto | CryptoPost

0

Why South Korea Decided To Ban ICOs?

0
crypto stocks Bitcoin price

Amid Bitcoin Price Rally, BTC Funds See Major Outflows, This Cohort Is Booking Profits

March 21, 2023
afip argentine tax authority

Argentine Tax Authority AFIP Detects Irregularities in 184 Digital Wallet Tax Statements – Taxes Bitcoin News

March 21, 2023
fed crypto bitcoin

Tuesday’s Fed Meeting to Decide the Next Movement in Bitcoin (BTC) Price

March 21, 2023
Economist David Rosenberg Warns of Impending 'Crash Landing' and Recession, Citing Fed Data

Economist David Rosenberg Warns of ‘Crash Landing’ and Recession, Citing Fed Data – Economics Bitcoin News

March 21, 2023

Recommended

Mike Novogratz says crypto crash is almost done, price to remain sideways

Mike Novogratz says crypto crash is almost done, price to remain sideways

July 7, 2022
Solana Block Production Stalls for Hours, SOL Holders Unable to Transact, Validators Deploy a Fix

Solana Block Production Stalls for Hours, SOL Holders Unable to Transact, Validators Deploy a Fix – Bitcoin News

September 14, 2021
India’s CryptoRelief Will Give Back $100M Of Buterin’s SHIB Donation

Vitalik Buterin Says His Influence Decreases As Merge Nears

September 2, 2022
JPMorgan CEO Jamie Dimon Warns Recession Could Hit in 6 Months, Stock Market Could Drop 20% More — 'This Is Serious Stuff'

JPMorgan CEO Jamie Dimon Warns Recession Could Hit in 6 Months, Stock Market Could Drop 20% More — ‘This Is Serious Stuff’ – Economics Bitcoin News

October 10, 2022

Recent News

crypto stocks Bitcoin price

Amid Bitcoin Price Rally, BTC Funds See Major Outflows, This Cohort Is Booking Profits

March 21, 2023
afip argentine tax authority

Argentine Tax Authority AFIP Detects Irregularities in 184 Digital Wallet Tax Statements – Taxes Bitcoin News

March 21, 2023

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Business
  • Ethereum
  • Guide
  • ICO News
  • Litecoin
  • Market Analysis
  • Press Release
  • Regulation
  • Ripple
  • Stablecoin
  • Trading
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions

CryptoReception © 2021 All rights reserved

No Result
View All Result
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Litecoin
    • Ripple
    • Altcoin
    • Stablecoin
    • Press Release
  • Blockchain
  • Business
  • Market Analysis
  • Live Price
  • ICO News
  • Regulation
  • Guide
  • Trading

CryptoReception © 2021 All rights reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.