GreenBox partners with Elliptic to mitigate financial crime challenges in crypto

By Pavithra R

GreenBox, an emerging FinTech company leveraging proprietary blockchain security to build customized payment solutions has announced partnering with Elliptic, a leading provider of cryptoasset risk management and blockchain analytics solutions, to implement anti-money laundering (AML) monitoring systems for cryptoassets.

Elliptic is a global leader in cryptoasset risk management solutions. The firm enables financial institutions and cryptocurrency businesses to manage risk on the blockchain. Its products Navigator and Lens help financial institutions and businesses detect and prevent financial crime in the cryptocurrency world.

“Ensuring safe, instant settlement across the currency spectrum is of the utmost importance to GreenBox POS. By integrating with Elliptic’s crypto monitoring and compliance solutions, we add yet another layer of protection and accountability to our blockchain-based ecosystem,” said Fredi Nisan, Chief Executive Officer of GreenBox POS.

The alliance will enable GreenBox to scale up its AML and sanctions compliance quickly. Elliptic’s crypto transaction monitoring capability detects high-risk crypto transactions and identifies high-risk customers based on activity, source of funds and destination tracing, and an audit trail of accurate crypto transaction records.

“In choosing Elliptic, GreenBox POS has demonstrated their commitment to compliance. With Elliptic’s blockchain analytics tools, GreenBox POS can mitigate financial crime challenges in crypto and continue to grow with confidence,” said Simone Maini, CEO of Elliptic.

Founded in 2017, GreenBox is focused on disrupting and improving the current world of payment systems. The firm strive to build cutting edge customized payment solutions for the diverse, evolving and dynamic market. It devises innovative applications that disrupt and improve upon traditional processes, backed by its proprietary blockchain technology. It operates a private and proprietary blockchain-based payment platform that offers distinct advantages when compared to traditional payment technologies.