Blockchain startup Kinto has announced plans to launch the first KYC'd (Know Your Customer) Ethereum Layer-2 blockchain after raising $5 million in a seed funding round. The company aims to provide a scalable and compliant platform for regulated financial institutions to access decentralized finance (DeFi) applications. The Kinto Layer-2 blockchain will utilize zero-knowledge proofs (ZKPs) to enable private transactions while maintaining compliance with KYC and anti-money laundering (AML) regulations. This will allow regulated institutions to participate in DeFi applications without compromising on their regulatory obligations.
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