Elliptic(@elliptic):A nested exchange is a cryptoasset business that serves its own customers through an account it holds at a larger exchange. Some of these arrangements are ordinary commercial relationships, run by licensed businesses with real controls. Others operate without the parent exchange knowing, and ask their own users for very little. Our new Blockchain Basics explainer covers how to tell the two apart, and what the second kind means for onboarding and monitoring:

Elliptic

@elliptic

Bringing Compliance to Cryptoassets. Blockchain analytics, training, and certification for crypto businesses, financial institutions, and regulators.

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Elliptic@elliptic

2026.09.08 13:33

A nested exchange is a cryptoasset business that serves its own customers through an account it holds at a larger exchange. Some of these arrangements are ordinary commercial relationships, run by licensed businesses with real controls. Others operate without the parent exchange knowing, and ask their own users for very little. Our new Blockchain Basics explainer covers how to tell the two apart, and what the second kind means for onboarding and monitoring: