Privacy Preserving Protocol zkPass Closes $2.5 Million Seed Round with Binance Labs Involved

Privacy preserving protocol zkPass closed a $2.5 million seed funding round with participation from Binance Labs, Sequoia China, OKX Ventures, dao5, SIG DT Investments, Cypher Capital, Leland Ventures, and Blockchain Founders Fund. The funds raised will be used to support its pre-release The funds raised will be used to support the development of its pre-alpha testnet, which has over 190,000 signups on its waitlist.

zkPass, incubated by Binance Labs, is a protocol that combines zero-knowledge proofs, multi-party computation, and three-party transport layer security to enable users to disclose their personal data on any website without revealing or uploading the documents themselves. The technology can be used for concepts such as decentralized identity passes, privacy-based healthcare data marketplaces, and the DeFi protocols for credit applications using off-chain data.