Nocturne Announces Multi-Million Seed Round Led by Bain Capital Crypto and Polychain
Nocturne, a protocol enabling private, composable accounts on Ethereum, has announced that Bain Capital Crypto and Polychain will be leading their multi-million seed round. This funding round will also see participation from Vitalik Buterin, the founder of Ethereum.
Support from Prominent Names
In addition to Bain Capital Crypto and Polychain, other participants in the funding round include Bankless Ventures and Robot Ventures. Angel participants such as Tim Beiko from the Ethereum foundation, Aaron Henshaw from Coinbase Cloud, and Scott Moore, the previous co-founder of Gitcoin, are also involved.
Nocturne Labs plans to deploy the protocol on the mainnet in November. The funding from this round will be used to support the v1 protocol and integrate with other protocols, wallets, payment platforms, and partners.
Making Privacy a Reality
Nocturne aims to enable anonymous transactions within the Ethereum ecosystem. Users can create discreet “internal” accounts within Nocturne where funds can be received and spent anonymously. These transactions will remain untraceable and detached from a single address.
Nocturne Labs’ first user-facing product is a private vault UI that offers a streamlined interface for managing hot assets stored within private accounts. Users can receive and deposit funds anonymously, earn yield on idle funds, and withdraw to fresh wallets for unlinked trading and transactions.
Hot Take: Nocturne Raises Funding for Private Transactions on Ethereum
Nocturne’s recent multi-million seed round led by Bain Capital Crypto and Polychain signifies the growing interest in privacy-focused solutions within the Ethereum ecosystem. With support from prominent names like Vitalik Buterin, the funding will help Nocturne deploy its protocol on the mainnet and integrate with various partners. By enabling anonymous transactions through discreet “internal” accounts, Nocturne aims to provide users with a secure and untraceable way to transact on Ethereum. The introduction of their user-facing product, a private vault UI, further enhances the user experience by allowing users to manage their assets privately and engage in unlinked trading. As privacy becomes increasingly important in the crypto space, Nocturne’s protocol is poised to make a significant impact.
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