Business News Report
March 19, 2024

Keyring Raises $6M Funding to Expand Crypto Compliance Platform for Institutional Access to DeFi

In Brief

Keyring raised $6 million to advance its platform, serving institutional investors in engaging with DeFi platforms in a compliant manner.

Keyring Raises $6M Funding to Expand Crypto Compliance Platform for Institutional Access to DeFi

Encryption compliance platform Keyring raised $6 million in the latest funding round led by Gumi Cryptos Capital and Greenfield Capital, with participation from Motier Ventures and Kima Ventures, among other investors. The company plans to use the newly raised capital to broaden its on-chain compliance platform, serving institutional investors and protocols.

Keyring aims to assist financial institutional investors in engaging with decentralized finance (DeFi) platforms in a compliant manner by implementing measures to restrict counterparty addresses while safeguarding privacy and sensitive data through utilizing zero-knowledge (ZK) proof technology. 

“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 lead investor 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,” he added.

The company recently conducted a proof of concept trial with Laser Digital, the cryptocurrency-focused arm of Japanese global financial services group Nomura. This involved developing a compliance wrapper on top of Circle’s US dollar-pegged USDC stablecoin.

Global Regulatory Advances Fuel Expansion of Crypto Services in 2024

The new investment comes when regulatory bodies in major global financial centers establish guidelines for companies to engage with digital assets. This development is expected to encourage more institutions to provide cryptocurrency services.

Recently, Hong Kong’s central bank launched a regulatory sandbox for stablecoin issuers, providing them with a controlled environment to test their operations. The sandbox offers regulatory flexibility and aligns with the city’s initiative to regulate fiat-backed stablecoins, which are cryptocurrencies linked to the value of sovereign currencies, including the US or Hong Kong dollar. 

Meanwhile, the United Kingdom’s financial regulator has introduced measures allowing the offering of cryptocurrency-focused exchange-traded notes (ETN) on regulated exchanges, targeting sophisticated investors. ETNs are a form of exchange-traded product typically issued by a bank or an investment manager, designed to track an underlying index or assets. The regulator stated that exchanges will be responsible for ensuring sufficient controls are in place to ensure orderly trading and provide proper protection to professional investors.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Hot Stories
Join Our Newsletter.
Latest News

The Calm Before The Solana Storm: What Charts, Whales, And On-Chain Signals Are Saying Now

Solana has demonstrated strong performance, driven by increasing adoption, institutional interest, and key partnerships, while facing potential ...

Know More

Crypto In April 2025: Key Trends, Shifts, And What Comes Next

In April 2025, the crypto space focused on strengthening core infrastructure, with Ethereum preparing for the Pectra ...

Know More
Read More
Read more
May 2025 in Blockchain: Key Updates and What’s Coming Next
Digest Business Markets Technology
May 2025 in Blockchain: Key Updates and What’s Coming Next
May 30, 2025
May 2025 in Crypto: Projects That Mattered Across Blockchains
Digest Business Markets Technology
May 2025 in Crypto: Projects That Mattered Across Blockchains
May 30, 2025
Crypto Partnerships Power Up: Coinbase, Binance & Bitget Lead the Charge
Digest Business Markets Technology
Crypto Partnerships Power Up: Coinbase, Binance & Bitget Lead the Charge
May 30, 2025
The Next Wave of Crypto: An Exclusive Podcast with Yat Siu
Hack Seasons Interview Business Markets Technology
The Next Wave of Crypto: An Exclusive Podcast with Yat Siu
May 30, 2025