Elliptic, a leading blockchain analytics provider, and Fireblocks, a direct custody technology platform, have announced their collaboration with GSR, a global crypto market maker and liquidity provider. The partnership aims to enhance GSR’s compliance practices in digital asset trading and market making.

GSR’s Head of Financial Crime, Raj Radia, emphasized the importance of establishing strong compliance practices and ensuring AML compliance. Through the integration with Fireblocks and Elliptic, GSR aims to advance its compliance capabilities with customizable risk rules that align with its risk appetite statement.

Fireblocks is a direct custody platform that supports over 1,800 major institutions and powers digital asset and crypto products for various entities, including custodians, fintechs, crypto exchanges, payment service providers, brands, corporates, and asset management firms.

The integration between Elliptic and Fireblocks is based on Fireblocks KYT & AML Screening solution, utilizing Elliptic’s wallet and transaction intelligence tools to screen deposits and withdrawals. This integration enables GSR to automatically detect and remove high-risk transactions in real-time, based on customizable risk scoring and thresholds defined by the company.

Adam Levine, Vice President and Head of Corporate Strategy at Fireblocks, highlighted that compliance is a top priority for institutions in the ever-changing regulatory landscape. He believes that the integration with Elliptic provides institutional customers like GSR a streamlined experience to protect and ensure compliance in their day-to-day operations.

David Carlisle, Vice President of Policy and Regulatory Affairs at Elliptic, noted that the strategic integration between Fireblocks and Elliptic helps customers leverage high-quality data and Holistic Screening to detect and refuse risky transactions on their own terms using customizable risk rules.

GSR is a market maker, investment advisor, and active multi-stage investor with ten years of deep crypto market expertise. They provide liquidity in digital assets for token issuers, institutional investors, miners, and crypto exchanges.

Fireblocks is an enterprise-grade platform that facilitates secure infrastructure for moving, storing, and issuing digital assets. The platform serves over 1,800 financial institutions and has facilitated the transfer of over $4 trillion in digital assets.

Elliptic, recognized as a WEF Technology Pioneer, offers cryptoasset risk management solutions for crypto businesses, financial institutions, and government agencies globally. Backed by prominent investors, Elliptic has assessed risk on transactions worth trillions of dollars, detecting activities related to money laundering, terrorist fundraising, fraud, and other financial crimes.

Overall, this collaboration between Elliptic, Fireblocks, and GSR further amplifies the compliance capabilities of GSR in digital asset trading and market making, providing a streamlined and secure experience for institutions in the crypto space.