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Investment of $2 Million Secured for Expansion of Elliptic's Commercial Operations

Investment firm Octopus Inc. has infused $2 million into the Bitcoin secure storage service provider, Elliptic. Other investors have also contributed to the company's capital. With this investment, Elliptic aims to expand its operations, including the provision of a safe and insured Bitcoin...

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Investment Firm Doles Out $2 Million for Business Expansion at Elliptic
Investment Firm Doles Out $2 Million for Business Expansion at Elliptic

Investment of $2 Million Secured for Expansion of Elliptic's Commercial Operations

Elliptic, a leading Bitcoin crypto asset provider, has announced that it has received a $2 million investment, with the primary investor being Octopus Investments. While the exact names of other investment companies involved have not been disclosed, the funding will be used to further develop Elliptic's services and make its solution more user-friendly and secure.

James Smith, CEO of Elliptic, expressed his vision for the company, stating that they aim to make their Bitcoin vault easy to use for companies accustomed to traditional financial products. The Bitcoin vault, already used by Bitcoin exchange sites, hedge funds, retailers, and other companies, offers a secure and insured storage solution for companies handling large quantities of Bitcoins.

The Bitcoin vault from Elliptic boasts both physical and cryptographic security measures, ensuring the safety of the stored Bitcoins. Backups for these Bitcoins are distributed globally, further enhancing the security of the service.

Beyond vault storage, Elliptic sees potential in offering services such as reporting, analytics, auditing, and accounting for companies using Bitcoins. The company plans to improve the clearing and settlement of Bitcoin trades, potentially becoming the go-to company for Bitcoin needs.

Improving the exchange process between digital and fiat currencies is a focus area for Elliptic. With an insurer involved in securing the Bitcoins stored in their vault, Elliptic is committed to providing a comprehensive and secure service for its clients.

With this investment, Elliptic is poised to expand its services and solidify its position in the Bitcoin industry. The company's Bitcoin vault is designed to store Bitcoins securely, making it an attractive option for businesses looking to enter the digital currency market. As Elliptic continues to grow and innovate, it is set to play a significant role in the future of Bitcoin.

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