Crypto Compliance Platform Keyring Raises $6M to Unlock DeFi for Institutions

Crypto compliance platform Keyring has secured $6 million in venture capital funding to expand its on-chain compliance platform, specifically aimed at institutional investors and protocols. Leading the seed investment round were Gumi Cryptos Capital and Greenfield Capital, with participation from Motier Ventures, Kima Ventures, and others. The funding comes at a time when regulatory bodies in major financial centers are establishing rules for companies in their interactions with digital assets, allowing for broader participation from institutions in the crypto space. Keyring’s platform aims to facilitate compliant interactions between financial institutional investors and decentralized finance (DeFi) platforms, while also protecting privacy and sensitive data through the use of zero-knowledge (ZK) proof technology. The company recently conducted a proof of concept trial with Laser Digital, the crypto arm of Japanese banking giant Nomura, by creating a compliance wrapper on top of Circle’s USDC stablecoin. The investment will enable Keyring to provide more options for verified and compliant counterparties, bringing the benefits of blockchain technologies to a wider range of financial industry players.