Keyring, a company dedicated to enabling institutional investors to engage with DeFi platforms securely and in accordance with regulatory requirements, has successfully secured $6 million in funding. The financial injection is earmarked for the expansion of Keyring’s compliance platform. Gumi Cryptos Capital and Greenfield Capital led the investment round, with additional support from Motier Ventures, Kima Ventures, and other notable participants.
Keyring uses zero-knowledge proof technology to help institutional investors interact with DeFi entities without compromising on privacy or sensitive data. This technology ensures compliance with global financial regulations by restricting transactions to verified and compliant counterparty addresses.
“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. Keyring provides these players with options to interact with verified and compliant counterparties, thus unlocking these benefits for the majority of the financial industry,” said Miko Matsumura, managing partner at lead investor Gumi Cryptos Capital.
Proof of Concept and Future Plans
Keyring’s recent achievements include a successful proof of concept trial with Laser Digital, the cryptocurrency-focused division of the global financial services giant Nomura. This trial focused on developing a compliance wrapper around Circle’s US dollar-pegged USDC stablecoin, showcasing the practical applications of Keyring’s technology in real-world scenarios.
As Keyring continues to develop and expand its on-chain compliance platform, the future looks promising for institutional investors eager to explore DeFi’s advantages. With its investors’ support and the potential for widespread adoption, Keyring is well-positioned to play a pivotal role in integrating traditional financial institutions into the decentralized financial ecosystem.