EtherSystems launches to develop Ethereum privacy infrastructure for institutions

EtherSystems has officially launched after securing initial investment from Bitmine and SharpLink. The company is developing privacy technology that allows regulated financial institutions, such as banks and asset managers, to process financial transactions on Ethereum without disclosing transaction details or customer information. EtherSystems was founded by the team that previously led the Ethereum Foundation's institutional privacy task force. The new venture builds on a year of open-source development and a collaborative network established with central banks, regulatory bodies, and global financial institutions. EtherSystems plans to work alongside EtherLabs and Ethereum Institutional, two other recent spinoffs from the Ethereum Foundation, to build out an Ethereum ecosystem for institutional use.