Bitcoin is making headlines again as London-based Elliptic announce a £2m funding round.

Led by Octopus, it is the first major venture capital investment in a British Bitcoin company and will be used to continue product development and customer acquisition.

Going in Elliptics

The investment comes 6 months after the launch of Elliptic Vault, an insured storage service for the cryptocurrency.

It is targeted at business and financial institutions and is used by the recently announced Global Advisors Bitcoin Investment Fund, the first regulator-approved fund of its kind.

Dr James Smith, Chief Executive of Elliptic, says that they are delighted with feedback so far and believes this only the beginning for the digital assets sector.

Digital currencies are just the start – the block chain technology behind Bitcoin has the potential to revolutionise a wide range of industries.

London-graduate

Elliptic have come out of London-headquartered incubator Seedcamp, who yesterday announced a new $30m fund.

Carlos Eduardo Espinal, Partner at Seedcamp, said:

It was clear to us from the beginning that Elliptic was set to do great things.

The value of Bitcoin is way down from its peak last year, but with cryptocurrency ATMs now appearing across London this will definitely not be the last you hear about it.

 

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