zkMe Secures $4M From Multicoin Capital To Build FATF- and MiCA-Compliant Identity Solution For Web3 Applications

zkMe
Technology
Limited,
the
leading
provider
of
zero-knowledge
(ZK)
identity
verification
solutions,
today
announced
a
$4M
seed
round
led
by
Multicoin
Capital
with
participation
from
OKX
Ventures
and
Robot
Ventures.
The
investment
will
be
used
to
develop
zkMe
Network,
a
neutral
zero-knowledge
identity
layer
for
Web3
developers
who
require
identity
verification
and
compliance.
The
network
is
expected
to
launch
by
the
end
of
Q4.

The
escalating
enforcement
actions
against
decentralized
financial
service
providers
highlight
the
impending
regulatory
changes
that
crypto
projects
must
prepare
for.
With
the
EU’s
MiCA
regulation
set
to
take
effect
in
2025,
mandating
KYC
procedures
for
all
crypto
transactions,
and
the
Financial
Action
Task
Force
(FATF)
intensifying
its
focus
on
anti-money
laundering
measures,
the
landscape
for
crypto
projects
is
evolving
rapidly.

As
the
only
decentralized
KYC
provider
ready
for
FATF
standards,
zkMe
equips
Web3
teams
with
a
comprehensive
array
of
credential
verification
solutions
to
navigate
these
challenges.
From
robust
anti-bot
and
anti-sybil
measures
to
full-fledged
KYC
and
KYT
capabilities,
zkMe’s
suite,
available
via
SDK
or
API,
streamlines
compliance,
fortifies
data
security,
and
mitigates
regulatory
complexities.
Now
developers
can
ensure
their
projects
not
only
meet
the
stringent
demands
of
upcoming
regulations
yet
adhere
to
the
privacy-first
ethos
of
web3.

“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,”
stated
Alexander
Scheer,
CEO
and
Founder
of
zkMe. 

zkMe’s
identity
verification
solutions
are
powered
by
the
zkMe
Protocol,
the
world’s
first
FATF-compliant,
zero-knowledge
know-your-customer
(zkKYC)
protocol,
and
the
zkMe
Network,
a
proprietary
appchain.
zkMe
shifts
zero-knowledge
proof
(ZKP)
generation
from
server-side
to
the
client-side
before
on-chain
verification,
which
eliminates
the
latency
issues
and
data
breach
risks
associated
with
traditional
server-side
models
and
ensures
users
maintain
full
control
over
their
data.
The
zkMe
chain
then
serves
to
store
proofs
in
a
neutral,
decentralized
layer,
creating
a
trustless,
self-sovereign,
privacy-preserving
bridge
between
credentials
and
any
blockchain. 

“zkMe’s
client-side
approach
to
identity
verification
is
the
first-order
correct
way
to
do
identity
verification
and
compliance
in
the
MiCA
age,”
said
Kyle
Samani,
Managing
Partner
at
Multicoin
Capital. “We
are
excited
to
partner
with
zkMe
as
they
continue
to
build
a
decentralized
and
trustless
identity
infrastructure
for
the
future
of
the
internet.”

“We’re
incredibly
excited
to
have
the
backing
of
Multicoin
Capital,
OKX
Ventures,
and
Robot
Ventures
as
we
enter
this
next
growth
phase,”
stated
Alexander
Scheer,
CEO
and
Founder
of
zkMe. “This
investment
will
significantly
accelerate
the
development
of
the
zkMe
Network,
empowering
Web3
users
with
robust
and
privacy-centric
identity
solutions.”

Since
its
inception
in
December
2022,
zkMe’s
technology
has
been
adopted
by
over
60
Web3
projects,
facilitating
over
650,000
consumer
attestations.
Its
diverse
clientele
includes
platforms
like
Alchemy
Pay
and
Kyberswap,
along
with
prominent
launchpads
and
RWA
projects.
The
zkMe
SDK,
built
on
Cosmos
and
EVM
compatible,
offers
broad
chain
support
with
over
20
integrations,
making
it
the
most
versatile
solution
in
the
market.
This
SDK
enables
web3
developers
to
seamlessly
integrate
self-sovereign
identity
and
verifiable
credentials
into
their
applications,
ensuring
security
and
privacy
while
providing
tools
for
creating,
managing,
and
verifying
credentials. 

“zkMe’s
reusable
KYC
solution
is
a
game-changer.
By
empowering
users
to
control
their
own
digital
identity
and
seamlessly
reuse
their
verified
credentials,
zkMe
is
not
only
enhancing
privacy
and
security,
but
also
streamlining
the
onboarding
experience
across
the
Web3
ecosystem.
This
is
a
critical
step
towards
a
more
efficient
and
user-friendly
decentralized
future,”
said
Jeff
Ren,
Partner
of
OKX
Ventures. 

The
latest
funding
round
will
supercharge
zkMe’s
roadmap,
encompassing
the
decentralization
of
current
products,
completion
and
launch
of
their
appchain. 

To
learn
more
about
zk.me,
please
visit https://zk.me/. 

About
zkMe
Technologies 

zkMe
Technologies
is
the
leading
provider
of
zero-knowledge
(ZK)
identity
verification
solutions
for
Web3
developers.
zkMe,
the
company’s
flagship
product,
is
a
FATF-compliant
decentralized
identity
solution
that
helps
developers
build
scalable
applications
that
seamlessly
comply
with
 new
regulatory
requirements
without
compromising
user
privacy
or
creating
data
honeypot
risks. 

Developers
can
easily
integrate
zkMe’s
Compliance,
Anti-Sybil,
or
User
Profiling
credentials
into
their
dApps
via
an
SDK
or
API.
For
more
information,
visit www.zk.me.

About
Multicoin
Capital 

Multicoin
Capital
is
a
thesis-driven
investment
firm
that
invests
in
cryptocurrencies,
tokens,
and
blockchain
companies.
Crypto
networks
and
companies
will
create
trillions
of
dollars
of
value
over
the
next
decade.
But
investing
in
tokens
is
fundamentally
different
than
investing
in
companies.
New
tools,
heuristics,
and
security
measures
are
needed
to
responsibly
invest
in
this
ecosystem.
We
leverage
our
deep
understanding
of
blockchain
technology
and
crypto
markets
to
deliver
exceptional
returns.
For
more
information,
visit: https://multicoin.capital.
 

Disclaimer: The
information
provided
in
this
press
release
is
not
a
solicitation
for
investment,
nor
is
it
intended
as
investment
advice,
financial
advice,
or
trading
advice.
It
is
strongly
recommended
you
practice
due
diligence,
including
consultation
with
a
professional
financial
advisor,
before
investing
in
or
trading
cryptocurrency
and
securities.