Keyring Network Raises $6M to Boost Digital Asset Compliance

London – 25 March, 2024 – Keyring Network announces the completion of a $6 million seed funding round, marking a significant milestone in its journey towards mainstream adoption of blockchain-based finance. The round was co-led by gumi Cryptos Capital and Greenfield Capital, with participation from Motier Ventures, Kima Ventures, and early backers including UDHC Finance and Eberg Capital, alongside key angel investors.

Launched in 2022 by a former Nomura quant and a J.P. Morgan investment banker, the team combines deep technical experience across smart contracts and cryptography. Keyring addresses the critical challenges of regulatory compliance and market liquidity by allowing financial organisations to selectively connect with compliant counterparts. The solution is powered by zero-knowledge (ZK) technology to ensure institutional-grade privacy and security around sensitive data.

Recent strategic partnerships with FeverTokens, Backed, Angle Protocol, and Singularity showcase Keyring’s capabilities within the real-world assets (RWA) space. The company notably facilitated a Proof-of-Concept with Nomura’s digital asset subsidiary, Laser Digital. Compliance was enforced using a Keyring wrapper built on top of USDC. Laser Digital’s CEO, Jez Mohideen, commented: “For asset management strategies to fully leverage the opportunities of smart contracts, it is essential to integrate robust compliance systems.” This POC reflects Keyring’s commitment to facilitating institutional access to compliant digital assets.

“Keyring’s asset-level solution is the most flexible ZK compliance tool catering to financial institutions’ individual DeFi risk appetite. Users can restrict themselves in terms of counterparty interactions, so they can be as conservative as they would like to”, noted Felix Machart, Partner at Greenfield. A report by BCG expects the RWA tokenisation market to grow 50-fold by 2030, to $16 trillion or roughly 10% of global GDP. Institutional engagement is crucial for RWA market expansion. 

“Literally trillions of dollars are unable to access the transparency, determinism, automation and settlement advantages of blockchain technologies for financial applications, due to variations in financial regulations,” said Miko Matsumura, Managing Partner at gumi Cryptos Capital. “Keyring provides these players with options to interact with verified and compliant counterparties, thus unlocking these benefits for the majority of the financial industry.”

Keyring’s mission is to unlock the potential of digital assets by enabling liquid and scalable secondary markets. It seeks to transform the way sensitive information is shared to enhance connectivity. Users can privately reuse their data and platforms can quickly identify qualified participants. Keyring is launching new use cases soon to bring further growth and innovation in the realm of digital assets.

About Keyring Network:

Keyring equips financial service providers with permissioning tools for compliant transactions on-chain, powered by zero-knowledge privacy. The company operates at the intersection of traditional and blockchain-based finance, serving as an institutional-grade gateway to channel assets, capital, and users on-chain.

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Company Name: Keyring Network
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