By Isaac • July 15, 2026 10:39 am •
A team that spent the past year solving Ethereum’s privacy problem for major institutions has left the Ethereum Foundation and opened a for-profit company.
The change sounds administrative until the business model comes into view. EthSystems intends to sell the technical work that banks, asset managers and payment companies need before they can move sensitive activity onto a public blockchain.
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Its backers make the wager even clearer. Ethereum-focused public companies and one of the network’s most prominent founders are financing a commercial privacy layer for institutional use.
EthSystems introduced the company Tuesday as an independent continuation of the Ethereum Foundation’s Institutional Privacy Task Force. The founding team is Mo Jalil, Oskar Thoren and Aaryamann Challani.
The
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