zkMe Know-how Restricted has finalized a $4 million seed funding spherical led by Multicoin Capital, with participation from OKX Ventures and Robotic Ventures.
The funds will assist the event of zkMe Community, a decentralized identification verification layer for Web3 functions, anticipated to launch later this yr, in line with the corporate’s launch.
Amid elevated regulatory scrutiny, notably from the EU’s upcoming MiCA laws and the Monetary Motion Job Pressure, zkMe goals to offer a compliance resolution for Web3 builders.
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Privateness and safety
The zkMe Community will supply a impartial identification layer that integrates know-your-customer and know-your-transaction protocols whereas sustaining person privateness via zero-knowledge proofs.
In Web3 and crypto, KYC entails verifying person identities to stop fraud and adjust to laws, whereas KYT focuses on monitoring transactions to detect criminal activity. Each are essential for guaranteeing safety and compliance within the crypto area.
🎉 zkMe is thrilled to announce a $4 million elevate led by @MulticoinCap, with participation from @OKX_Ventures and @RobotVentures.
This strategic funding will speed up the event of our zkMe Community, a decentralized identification verification layer for Web3 builders,… pic.twitter.com/AHY3T4YhNR
— zkMe (@zkme_) August 20, 2024
The zkMe Protocol, touted because the world’s first FATF-compliant zero-knowledge KYC protocol, permits for client-side ZKP era earlier than on-chain verification. This strategy reduces latency and enhances information safety, giving customers full management over their data.
Since its inception in December 2022, zkMe’s expertise has been utilized by over 60 Web3 tasks and has facilitated greater than 650,000 shopper attestations.
The corporate’s SDK helps over 20 blockchain integrations, making it a flexible resolution for builders. The latest funding will speed up zkMe’s improvement roadmap, launch its app chain, and decentralize current merchandise.
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