Waku

Ethereum
2026-07-15 11:12:45

EthSystems Spins Out of Ethereum Foundation Privacy Effort to Build Institutional Privacy Tools

EthSystems, a new for-profit company founded by Mo Jalil, Oskar Thorén, and Aaryamann Challani, has spun out of the Ethereum Foundation’s institutional privacy initiative. The team spent the past year running the Foundation’s Institutional Privacy Task Force, holding hundreds of conversations with central banks, regulators, tier-one banks, and asset managers. Now operating independently, EthSystems says it is building privacy and compliance technology that would let banks and asset managers use Ethereum without exposing trade data or client identities on a public ledger. The company starts with a year’s worth of open-source work already published, including proofs of concept for private bonds, confidential stablecoin transfers, private cross-chain settlement, hardened shielded pools, and an Ethereum Privacy Map. Its launch also comes as the Ethereum Foundation continues to shrink and restructure in 2026, with several teams splitting off to handle work the Foundation is stepping back from. EthSystems is backed by Bitmine Immersion Technologies, Sharplink, Ethereum co-founder Joe Lubin, and Asia-focused investment firm SNZ.

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EthSystems Spins Out of Ethereum Foundation Privacy Effort to Build Institutional Privacy Tools