French cryptography company Zama has acquired TokenOps, an enterprise token lifecycle management platform.
The Block recently reported that Zama is developing confidentiality protocols for public blockchains such as Ethereum and Solana.
Explaining the TokenOps acquisition, it said the aim is to remove signaling and front-running risks that arise because all information on public blockchains is disclosed by default.
Token issuers will be able to execute the entire token lifecycle on-chain in encrypted form under the ERC-7984 confidential token standard, including allotments, distribution schedules and recipient identities.
Rand Hindi (란드 힌디), Zama's co-founder and CEO, said, "In the existing on-chain world, transparency was a weakness packaged as a strength. For institutions, a transparent ledger is like revealing your books to competitors." He added, "Our goal is to make confidentiality the default state for all on-chain financial transactions."
TokenOps will continue to operate as an independent brand after being acquired by Zama. Zama raised $57 million in June last year in a Series B funding round after being valued at $1 billion.
Chi-gyu Hwang
delight@d-today.co.kr