A team of former Ethereum Foundation researchers has launched EthSystems, a new company focused on building confidential infrastructure for institutional Ethereum adoption.

The startup will help financial institutions deploy privacy-preserving solutions for stablecoins, tokenization, settlement, and payments, combining technologies such as zero-knowledge proofs (ZKPs) and fully homomorphic encryption (FHE).

Founded by Mo Jalil, Oskar Thorén, and Aaryamann Challani, EthSystems will operate as a for-profit company providing protocol research, architecture design, and production systems, while continuing to open-source its technical work for the Ethereum ecosystem.