Blockchain analytics startup Elliptic has integrated with LexisNexis, a move that provides the startup's clients with access to the vendor's global money laundering database.

The hope, the companies say, is to provide financial services firms with data on bitcoins transactions so that they can avoid interacting with parties tied to money laundering or other perceived to illicit activities.

"By integrating LexisNexis Risk Solutions' robust watchlist data, we are making it safe for a new wave of financial institutions to handle bitcoin and bank bitcoin companies," Elliptic co-founder and CEO James Smith said in a statement.

Elliptic closed a $5m Series A round earlier this year, a fundraise led by Paladin Capital Group, a venture firm with ties to the US defense industry. The firm has raised $7m in funding to date.

Disclaimer: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Elliptic.