Shiba Inu, renowned as a memecoin, has secured $12 million in funding from renowned institutional investors. This capital will support the development of Treat, Shiba Inu's privacy layer powered by Fully Homomorphic Encryption (FHE) technology from Zama.AI. Treat aims to enhance user confidentiality and security, potentially transforming digital finance with encrypted lending platforms, tokenized asset exchanges, and encrypted machine-learning models.
Shiba Inu Secures $12 Million Investment for Enhanced Privacy Layer
Yerevan, Armenia (CoinChapter.com) - Shiba Inu, the cryptocurrency project renowned for its memecoin status, has garnered a substantial $12 million investment from a consortium of prominent institutional investors. This financial injection will bolster the development of Treat, Shiba Inu's upcoming privacy layer aimed at safeguarding user confidentiality and security.
Treat, powered by "Fully Homomorphic Encryption (FHE)" technology from software intelligence firm Zama.AI, aspires to enable computation on encrypted data without exposing its contents. This innovation has the potential to revolutionize digital finance by facilitating encrypted lending platforms and tokenized asset exchanges, ensuring heightened security and privacy for users. Furthermore, encrypted machine-learning models may emerge, expanding the utility of the Shiba Inu network.
The funding round attracted participation from a diverse array of venture capital firms, including Comma 3 Ventures, Big Brain Holdings, Cypher Capital, Shima Capital, Hercules Ventures, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Polygon Ventures, Stake Capital, Illuminati Digital Capital, Primal Capital, Mechanism Capital, and Spirit Dao. Notably, all participating investors are headquartered outside the United States, a strategic move in light of the country's ongoing regulatory scrutiny of cryptocurrencies.
Shytoshi Kusama, Shiba Inu's anonymous lead developer, has publicly addressed criticism on social media platforms, expressing confidence in the project's long-term trajectory.
Shiba Inu's recent performance has been marked by a surge in value. Over the past year, the memecoin has witnessed a significant 164% gain, cementing its position as a top performer within the crypto market. The introduction of ".shib" domains and the growth of Shibarium, its layer-2 scaling solution boasting over 1 million users, represent significant milestones for the project.
As Shiba Inu continues to evolve, the Treat privacy layer promises to enhance the ecosystem's security and functionality. With the support of strategic investors, the project is poised to address the growing demand for enhanced data privacy in the digital finance landscape.
