A new venture backed by Ethereum co-founder Joe Lubin and publicly listed companies Bitmine Immersion Technologies and Sharplink has launched to develop privacy tools for regulated financial firms operating on Ethereum. EthSystems announced its public debut on July 14, aiming to let banks, asset managers and other institutions execute large-scale transactions without exposing sensitive data.
The company was formed by former Ethereum Foundation researchers Mo Jalil, Oskar Thorén and Aaryamann Challani, who previously built and led the foundation's Institutional Privacy Task Force. EthSystems plans to commercialize work begun inside the nonprofit, including confidential stablecoin transfers, private bond issues and cross-chain settlements, as well as privacy-preserving identity infrastructure.
The launch comes as Ethereum trades near $1,900. The project seeks to address a longstanding barrier to institutional adoption of public blockchains: the transparency of on-chain transactions, which conflicts with compliance and confidentiality requirements in traditional finance.