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Elliptic, the London, United Kingdom based bitcoin and digital asset security company has announced that it has been recognized as the Best Security Project of the Year -2015. The news as first reported on the company’s blog by Adam Joyce, the CTO and co-founder of Elliptic.

The recognition has been conferred upon Elliptic by “The Banker” which is one of the leading financial magazines. Elliptic has emerged winner among the total 270 submissions received by the magazine. The submissions were for a wide range of categories including security, risk management, strategic transformation, social media, trading, payments, developers APIs and more. By winning Best Security Project of the Year title, Elliptic is rubbing shoulders with other traditional heavyweights like BBVA, BNY Mellon, Citigroup, JPMorgan Asset Management, OTP Bank and ParFX Prime who are among the winners in different categories as well.

Founded in late 2013, the company is backed by Octopus ventures. Elliptic is one of the first companies in the world to offer insured cold storage services exclusively for digital assets which also includes bitcoin and other digital currencies. Apart from that, the company is also involved in performance analytics and portfolio reporting.

In his blog post, Adam Joyce refers to the contest judges’ words regarding present day market’s need to focus on secure store and management of bitcoin technology and Elliptic Vault ensures that all security requirements are taken care of.

Winning the award for being the Best Security Project of the Year will increase the credibility of bitcoin and bitcoin related businesses. It will also provide great opportunities for Elliptic to expand their business as well. According to another judge, projects like Elliptic Vault will make bitcoin more attractive to traditional and conservative banking and financial institutions who are still skeptical about bitcoin and blockchain technology.

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