Blockchain analytics firm Elliptic has secured a strategic investment from HSBC, making it the only company in the sector to be backed by four globally systemically important banks (G-SIBs). HSBC joins JPMorgan Chase, Santander and Wells Fargo on Elliptic’s investor roster. As part of the deal, Richard May, Group Head of Financial Crime at HSBC’s corporate and institutional banking arm, will take a seat on Elliptic’s board. Elliptic’s technology is used by financial institutions, crypto exchanges and governments to monitor blockchain transactions for signs of financial crime. With HSBC’s investment, Elliptic says it will step up hiring and expand its footprint in financial services. May said HSBC’s decision reflects the need for greater visibility into digital asset flows as regulation tightens. “With the rapid evolution of digital assets and currencies, mitigating financial crime risks has never been more important,” he said. “Elliptic’s solution provides HSBC with greater transparency, helping to meet rising regulatory expectations and industry standards.” The firm is also pushing ahead with an “AI-driven roadmap,” including a compliance-focused copilot launched this year to shorten onboarding times for banks entering crypto. Another priority is expanding blockchain coverage.