Elliptic Enterprises Ltd., a London-based blockchain analytics firm, has raised $120 million in a funding round supported by Deutsche Bank, Nasdaq Ventures, and existing investor JPMorgan Chase, Bloomberg reported Tuesday.

The investment round was led by One Peak Partners and values the blockchain analytics firm at $670 million. British Business Bank and AlbionVC also participated in the financing.

Since its founding in 2013, Elliptic has focused on bringing compliance and transparency to the digital asset industry through blockchain analytics. The company developed the world’s first blockchain-based compliance tools and has grown into one of the industry’s leading providers of crypto risk management and financial crime prevention solutions.

Recognized by the World Economic Forum as a Technology Pioneer, Elliptic today serves hundreds of customers worldwide and monitors the vast majority of digital asset trading activity across the globe.

CEO Simone Maini said the funding will help expand Elliptic’s global footprint and scale adoption of its compliance tools as traditional financial institutions continue building digital-asset businesses.

The funding comes amid growing institutional interest in crypto compliance infrastructure and blockchain analytics services.

Banks, trading platforms, and asset managers are continuing to roll out digital asset products, tokenized financial offerings, and blockchain payment initiatives, increasing the importance of scalable compliance systems.

At the same time, the digital asset industry has seen stronger institutional participation under a more supportive regulatory backdrop during President Donald Trump’s administration.