- Former Ethereum Foundation leaders launch EthSystems for institutional blockchain privacy.
- EthSystems will build confidential Ethereum systems for banks and regulated institutions.
- Bitmine, SharpLink, and Joe Lubin back EthSystems’ enterprise Ethereum expansion.
Former members of the Ethereum Foundation have launched EthSystems, an independent company focused on building confidential infrastructure for institutional Ethereum adoption. The new venture aims to help banks, asset managers, and regulated organizations use Ethereum while protecting sensitive financial data.
The launch follows the Ethereum Foundation’s recent restructuring and reflects growing demand for enterprise-grade blockchain privacy solutions.
EthSystems Targets Institutional Privacy on Ethereum
EthSystems was founded by former Ethereum Foundation employees Mo Jalil, Oskar Thorén, and Aaryamann Challani. The trio previously led the Foundation’s Institutional Privacy Task Force, where they developed privacy-focused solutions for enterprise blockchain adoption.
The company will operate as a for-profit business specializing in confidential systems for institutions using Ethereum. Its services will include technical consulting, protocol design, architecture reviews, and production infrastructure for regulated financial organizations.
EthSystems said institutions increasingly want to use public blockchains instead of private networks. However, many still require privacy tools that protect transaction details, client identities, and financial positions while maintaining Ethereum‘s transparency and security.
The founders believe institutional adoption has entered a new phase as regulatory clarity improves across several markets. They said financial firms now view Ethereum as infrastructure rather than only an investment asset.
The company stated its mission is to help institutions build confidential systems on public Ethereum without sacrificing the network’s core principles of decentralization, security, and censorship resistance.
EthSystems also confirmed it will continue contributing open-source research alongside commercial client engagements.
Backing, Research and Ethereum Ecosystem Expansion
EthSystems has secured backing from Ethereum treasury companies Bitmine and SharpLink. Ethereum co-founder and Consensys CEO Joe Lubin also supports the new venture as independent organizations expand Ethereum’s institutional ecosystem.
The company plans to continue work started within the Institutional Privacy Task Force. Previous projects included confidential stablecoin transfers, private bond proof-of-concepts, cross-chain settlement systems, and the Ethereum Privacy Map.
According to EthSystems, these initiatives were developed after extensive discussions with financial institutions, regulators, and central banks. Those conversations helped identify practical barriers preventing broader institutional adoption.
Its commercial model focuses on customized consulting for organizations building blockchain-based financial infrastructure. The company believes enterprise clients often require dedicated commercial partners for long-term implementation and technical support.
The launch comes shortly after the Ethereum Foundation reorganized its operations and reduced staffing as part of a broader strategic shift. Several independent organizations now handle specialized areas previously managed within the Foundation.
EthSystems said this structure allows commercial entities to solve institutional challenges while the Ethereum Foundation continues focusing on core protocol development, open-source innovation, privacy research, and network security.
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