EthSystems Launches Tuesday as For-Profit Privacy Firm for Institutional Ethereum

According to official announcement, EthSystems launched Tuesday (July 14) as an independent, for-profit firm building privacy and compliance technology for institutional Ethereum. Founded by Mo Jalil, Oskar Thorén, and Aaryamann Challani—who previously led the Ethereum Foundation's Institutional Privacy Task Force—the company focuses on enabling banks and asset managers to transact on Ethereum without exposing sensitive details like trade information or client identities.

EthSystems is backed by Ethereum treasury firms Bitmine and Sharplink, as well as Ethereum co-founder Joe Lubin and investment firm SNZ. The company launches with published open-source work including proofs of concept for private bonds, confidential stablecoin transfers, and private cross-chain settlement. Its business model combines bespoke consulting services with continued open-source development. With Ethereum hosting $16 billion in tokenized real-world assets and $159 billion in stablecoins, the founders argue privacy is critical to scaling institutional adoption.