"As more and more fintech companies use crypto, they face one big challenge: blockchains are public. This creates a risk that customers' sensitive financial data, like their salaries, or how much they pay for rent, could inadvertently be made public. That's a problem that a startup called Seismic is aiming to solve."
"On Wednesday, Seismic announced that it raised $10 million in a funding round led by a16z crypto, with participation from Polychain, Amber Group, TrueBridge, dao5, and LayerZero. In total, the startup has now raised a total of $17 million. Lyron Co Ting Keh, the founder and CEO of Seismic, did not disclose his company's valuation in an interview with Fortune."
"Co Ting Keh explained that he named his startup Seismic for two reasons. First, it aims to be boots on the ground and intimately know the needs of its customers, which Co Ting Keh said is critical in crypto, a very technical field where it can be easy to lose sight of the user. Second, Seismic means huge, which is ultimately what the company wants to be. "We know we're extremely grounded," said Co Ting Keh. "And we hope to be extremely valuable.""
Seismic raised $10 million in a round led by a16z crypto, bringing total funding to $17 million with participation from Polychain, Amber Group, TrueBridge, dao5, and LayerZero. The company builds private blockchain rails that route fintech transactions to prevent public exposure of sensitive customer financial data. Seismic partners with fintech Brookwell to handle stablecoin account transactions off public ledgers so payment details are not leaked. Founder Lyron Co Ting Keh positioned the company as customer-focused and ambitious in scale. Growing fintech adoption of crypto has increased demand for privacy solutions, and related Google searches have surged.
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