Seismic adds $10 million from a16z crypto to expand fintech privacy network

Crypto startup Seismic has secured $10 million in a funding round led by a16z crypto, bringing its total funding to $17 million following a prior $7 million seed round. The company, founded by Lyron Co Ting Keh, is developing an encrypted blockchain infrastructure that allows fintech companies to process crypto transactions without exposing sensitive customer data. Seismic already supports partners like Brookwell and Cred. Co Ting Keh noted that while fintech interest in crypto is rising due to cheaper cross-border payments and on-chain lending, data privacy remains a significant obstacle. Seismic aims to provide fintech applications with the confidentiality expected in traditional finance while retaining the advantages of open crypto networks. The firm plans to expand into fiat on/off-ramps and card programs, anticipating revenue generation via per-transaction fees starting early next year.

(Source：The Block)