Crypto startup Seismic has closed a $10 million funding round led by a16z crypto, joined by investors including Polychain, Amber Group, TrueBridge Capital, dao5, and LayerZero Labs.
The latest raise brings total funding to $17 million following the company’s initial $7 million March seed round, which included backing from a16z and Polychain. Fortune was first to report Wednesday’s news.
Founded by Lyron Co Ting Keh, Seismic is building an encrypted blockchain designed to let fintechs handle crypto transactions without exposing sensitive customer data.
The company’s infrastructure already supports partners such as Brookwell, which offers stablecoin-based cash accounts, and Cred, a private credit platform.
Co Ting Keh wrote on X that fintech interest in crypto is growing quickly, driven by cheaper cross-border payments and access to on-chain lending, but privacy remains a major hurdle.
Seismic aims to give fintech apps the same confidentiality users expect from traditional finance while keeping the benefits of open crypto networks.
The firm plans to expand into fiat on- and off-ramps and card programs, and expects to start earning revenue early next year through per-transaction fees.
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