Ethereum Foundation Spins Out New Venture for Institutional Ethereum

Former members of the Ethereum Foundation's Institutional Privacy Task Force have launched EthSystems, a for-profit company aimed at developing confidential infrastructure for institutional Ethereum.

The new venture has been backed by Bitmine and SharpLink, two major Ethereum treasury companies, as well as Consensys CEO Joe Lubin, who co-founded Ethereum.

EthSystems was spun out of the Ethereum Foundation and will focus on building systems that allow financial institutions to use public Ethereum without exposing sensitive information such as trading positions or client identities.

The company's work will include privacy systems based on zero-knowledge cryptography, which can verify transactions without revealing underlying data.