Regulatory-compliant identification solution developer zkMe Technology Limited secured $4 million in seed funding, a major Web3 industry milestone.
Multicoin Capital, OKX Ventures, and Robot Ventures led the investment to expedite the development of zkMe Network, a neutral zero-knowledge identity layer for Web3 developers who need identity verification and compliance.
The funding is vital for the crypto industry as worldwide regulations increase. Crypto projects confront compliance problems when the EU’s Markets in Crypto-Assets (MiCA) regulation takes effect in 2025 and the FATF intensifies its anti-money laundering efforts. zkMe’s technology helps Web3 teams manage these difficulties while protecting user privacy.
The only decentralized KYC provider ready for FATF standards, zkMe offers a full spectrum of credential verification options. From anti-bot and anti-sybil to KYC and KYT, they are available. Web3 projects can use the company’s SDK or API to improve compliance, data security, and regulatory issues.
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The zkMe Protocol, dubbed the first zero-knowledge know-your-customer (zkKYC) protocol in the world that complies with FATF regulations, is the foundation of zkMe’s technology. The method used by the corporation moves the creation of zero-knowledge proofs from the server to the client before on-chain verification.
Alexander Scheer, CEO and Founder of zkMe, emphasized the urgency of the situation: ‘The regulatory landscape is shifting rapidly, with enforcement actions on the rise and MiCA regulations looming in 2025. Crypto companies need to act decisively now. Embracing compliant, decentralized KYC solutions like zkMe isn’t just about avoiding penalties, it’s about securing the future of your business and upholding the fundamental right to privacy for your users.’
By doing away with the latency problems and data leakage hazards that come with conventional server-side approaches, approach makes sure users keep complete control over their data.
Since December 2022, It has garnered Web3 traction. The company says over 60 Web3 projects have used its technology for over 650,000 user attestations. Alchemy Pay, Kyberswap, launchpads, and RWA projects are its clients.
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Based on Cosmos and compatible with Ethereum Virtual Machine (EVM), the zkMe SDK supports over 20 blockchain integrations. Its broad interoperability makes it one of the most versatile options, allowing Web3 developers to simply integrate self-sovereign identification and verifiable credentials.
The recently obtained funds will be utilized to expedite it’s roadmap, which calls for the completion and release of their appchain in addition to the decentralization of their present goods. As the Web3 sector develops further and deals.
About zkMe
zkMe checks user credentials without revealing personal info! The only KYC solution that is entirely decentralized, private-by-design, and complies with worldwide AML requirements uses breakthrough zero-knowledge technology.
