<p>Wells Fargo Strategic Capital, an investing division of the third-largest U.S. bank, has injected $5 million in blockchain analytics firm Elliptic.</p> <p>The fresh capital brings Elliptic’s total series B funding to $28 million, according to a statement shared with The Block on Thursday. The firm <a href="https://www.theblockcrypto.com/post/38327/blockchain-analytics-firm-elliptic-raises-23m-series-b-to-fund-asia-expansion">raised</a> $23 million last September.</p> <p>Elliptic looks to expand in Asia and hire resources to sell its newly launched <a href="https://www.theblockcrypto.com/post/50089/elliptic-builds-a-solution-for-banks-to-help-them-decide-which-crypto-exchanges-to-do-business-with">Discovery</a> solution, which helps banks to decide which crypto exchanges to do business with.</p> <p>“At the moment, most banks cannot distinguish between compliant exchanges and those that pose money laundering or sanctions risks. Elliptic Discovery will allow them to instead take a risk-based approach, and use our insights and data to identify those crypto exchanges that they can safely do business with,” Tom Robinson, co-founder and chief scientist at Elliptic, told The Block recently. </p> <p>Wells Fargo is the first U.S. bank that has invested in Elliptic. Last September, Japanese banking group SBI Holdings led Elliptic’s $23 million round, and Spanish bank Santander is also an investor in the firm via its InnoVentures unit.</p> <p>Today’s investment brings Elliptic’s total funding to date to $40 million.</p>