The privacy blockchain project Seismic announced the completion of a $10 million financing round, led by a16z crypto, with participation from institutions such as Amber Group. The funds will be used to strengthen underlying technology and expand the financial cooperation ecosystem, further promoting its blockchain infrastructure built "for financial privacy."
Privacy Innovation: Seismic’s Market Positioning
Seismic is not designed to create a universal public chain, but rather focuses on privacy infrastructure for financial technology (Fintech) scenarios. The platform adopts an EVM-compatible architecture, allowing developers to build DApps using familiar Solidity, while setting privacy attributes through special syntax. Its core design philosophy is “default privacy”; data is automatically encrypted at the protocol layer without relying on external services, reducing the complexity of privacy development.
Seismic application TEE (Trusted Execution Environment) ensures node security, maintaining high trust levels for the network when handling financial sensitive data. This design is suitable for scenarios such as payroll distribution, private transactions, and data analysis, making Seismic a potential bridge for traditional finance to adopt Web3 applications.
Reth Client: The Core Engine of Privacy Smart Contracts
To strengthen on-chain privacy computing, Seismic has developed the native execution client Seismic Reth. It retains EVM compatibility while adding encrypted transactions and private storage functions, and introduces six precompiled contracts that enhance security operations, such as AES-GCM and ECDH.
Reth will officially open source in October 2024, allowing developers to directly integrate its privacy module without the need to restructure the system. By simplifying the technical barrier, Seismic brings advanced privacy technology into the development ecosystem, promoting the birth of more practical applications.
Founding team and technical background
The founder of Seismic, Lyron Co Ting Keh, has a background in computer science and mathematics from Stanford and has participated in the development of privacy protocols such as Zcash and Aztec. Chief Engineer Peter He specializes in distributed systems and research on Ethereum dedicated chains, while Business Head Terence comes from the fintech sector and is responsible for driving partnerships.
The core team previously held positions at Wintermute, Google X, and Apple R&D, possessing rich experience in cryptocurrency and hardware development, providing credible technical support and industry guidance for the project.
Brookwell: The first landing application of Seismic
As technology matures, Seismic will launch its first financial application, Brookwell, in September 2025, focusing on personal financial privacy. The platform positions itself as a “private bank,” supporting rent payments, salary disbursement, and decentralized financial management functions. Its key advantages include:
- Encrypt sensitive data and transaction details.
- Support for mixed operations of fiat currency and crypto assets.
- Conduct data verification and profit calculation in a privacy environment.
Currently, Brookwell has opened its waiting list, attracting a lot of attention from early users.
Summary
Seismic’s new round of financing proves the strong demand in the market for financial-grade privacy chains. With EVM-compatible design, TEE architecture, and the open-sourcing of Reth technology, it is driving a deep integration of Web3 with traditional finance. With the launch of Brookwell, Seismic is gradually establishing its position as the infrastructure for financial privacy and may become the core driver of the next wave of privacy finance innovation.
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
