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Espresso Systems raises $32M to bring scaling and privacy to Web 3

2022/03/07 14:26

According to CoinDesk, Espresso Systems, a scaling and privacy system for Web 3 applications, revealed itself to the world with $32 million in funding led by Greylock Partners and Electric Capital, with participation from Sequoia Capital. Other participants in the round included Blockchain Capital and Slow Ventures. The funding will go toward expanding the team, product development and bringing products to market. The company’s Configurable Asset Privacy for Ethereum (CAPE) smart contract application is intended to offer creators customizable privacy regarding sender and receiver addresses and the amount and type of assets held or in movement. The elements can all be set to public, private or only transparent to select parties. At the outset, CAPE will support the creation and wrapping of ERC-20 tokens with support for non-fungible tokens (NFT) to follow.
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