Curated News
By: NewsRamp Editorial Staff
August 20, 2024

zkMe Technology Secures $4M Seed Round for Zero-Knowledge Identity Verification Solutions

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Source News Release

TLDR

  • zkMe Technology Limited secured a $4M seed round investment led by Multicoin Capital, providing a strategic advantage in developing the zkMe Network.
  • The zkMe Protocol and zkMe Network shift zero-knowledge proof generation from server-side to client-side before on-chain verification, ensuring data security and user control.
  • zkMe's decentralized KYC solutions empower Web3 developers to secure user privacy and comply with upcoming regulations, upholding the fundamental right to privacy for users.
  • zkMe's client-side approach to identity verification and compliance is the first-order correct way to do identity verification and compliance in the MiCA age.

Impact - Why it Matters

This news matters as it highlights the rapid developments in the regulatory landscape for crypto projects, with impending MiCA regulation mandating KYC procedures for all crypto transactions by 2025. zkMe's solutions equip Web3 teams with comprehensive credential verification to navigate these challenges, ensuring compliance, fortifying data security, and upholding the privacy-first ethos of web3. The investment will significantly accelerate the development of the zkMe Network, empowering Web3 users with robust and privacy-centric identity solutions, impacting the future of decentralized applications.

Summary

zkMe Technology Limited, the leading provider of zero-knowledge (ZK) identity verification solutions, has announced a $4M seed round led by Multicoin Capital, with participation from OKX Ventures and Robot Ventures. The investment will be used to develop zkMe Network, a neutral zero-knowledge identity layer for Web3 developers, to launch by the end of Q4. The company's technology has already been adopted by over 60 Web3 projects, facilitating over 650,000 consumer attestations, including platforms like Alchemy Pay and Kyberswap, along with prominent launchpads and RWA projects.

Source Statement

This curated news summary relied on this press release disributed by BlockchainWire. Read the source press release here, zkMe Technology Secures $4M Seed Round for Zero-Knowledge Identity Verification Solutions

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