Zama acquires token platform TokenOps to build private distribution infrastructure

Open-source cryptography developer Zama has acquired TokenOps, an institutional token distribution management platform, The Block reported. Zama plans to use the acquisition to build a private token distribution infrastructure leveraging Fully Homomorphic Encryption (FHE) technology. This will enable details such as token allocation sizes, unlock schedules, and recipient information to be processed in an encrypted state on public blockchains. Zama previously raised $57 million in a Series B funding round last June, led by Pantera Capital and Blockchange, at a valuation of $1 billion.