Keyring Raises $6M to Expand Compliance Platform for Institutional Investors in Crypto

Keyring, a firm specializing in on-chain compliance solutions for institutional investors and protocols in the cryptocurrency space, has successfully raised $6 million in a recent venture capital funding round.

The seed investment was led by Gumi Capital and Greenfield Capital, with participation from notable investors including Motier Ventures and Kima Ventures.

Keyring’s platform offers tools to assist financial institutional investors in complying with regulations when interacting with decentralized finance (DeFi) platforms, including features such as restricting counterparty addresses and preserving privacy through zero-knowledge (ZK) proof technology.

One of the key developments for Keyring was a successful proof of concept trial conducted in partnership with Laser Digital, the crypto arm of Japanese banking giant Nomura, where a compliance wrapper was built on top of Circle‘s USDC stablecoin.

The growing importance of regulatory compliance in the cryptocurrency sector, alongside the increased interest from institutional investors, has driven the need for solutions like Keyring to facilitate secure and regulatory-compliant interactions.

Miko Matsumura, managing partner at leading investor gumi Cryptos Capital, commented on Keyring’s role in the industry, stating that the platform provides options for verified and compliant counterparties, unlocking the advantages of blockchain technologies for a wider range of financial industry players.