Zama
Zama provides a Fully Homomorphic Encryption (FHE) protocol enabling confidential transactions, tokens, and smart contracts on public blockchains for institutional finance, DeFi, and enterprise use cases.
- Company typePrivate
- Founded2019
- HeadquartersZug, Switzerland
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
Zama firmographics
Firmographics- Name
- Zama
- Legal name
- Zama
- Website
- https://zama.ai
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Zama provides a Fully Homomorphic Encryption (FHE) protocol enabling confidential transactions, tokens, and smart contracts on public blockchains for institutional finance, DeFi, and enterprise use cases.
- Ownership category
- akta.pro rank
Zama industry classification
Industry- Product category
- Blockchain Privacy Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Permissioned Blockchain Platforms & Frameworks (Hyperledger, Corda, Quorum) (FSAPAIAA)
- akta.pro secondary industry
- Compliance, Risk & RegTech for Tokenized Assets (KYC/AML, sanctions, travel rule, reporting) (FSAPAIAH)
Keywords
Where Zama is headquartered
LocationHeadquarters
- HQ city
- Zug
- HQ country
- Switzerland
- HQ region
- Europe
Offices1 record
Markets served
Zama business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations
Revenue model
- Protocol Fees: Zama enables confidential transactions on public blockchains and likely generates revenue through transaction fees processed through its protocol, with over $121 million in economic value already encrypted on Ethereum.
- Token Economics: ZAMA token launched February 2026 via Dutch auction at $0.05 per token with 11 billion total supply. Token likely provides staking, governance, or fee discount utilities within the protocol.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Enterprise pricing for institutional solutions |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Zama product offering
Product offeringCore offering
Zama builds a confidential blockchain protocol using Fully Homomorphic Encryption (FHE) that enables smart contracts and tokenized assets to be issued, traded, and managed on public blockchains while keeping amounts, balances, and internal logic encrypted. The company offers the Zama Protocol, the ERC-7984 confidential token standard, a developer SDK, and a self-serve Zama App, targeting institutional clients in finance, payments, payroll, real-world asset tokenization, and DeFi.
Product overview
Zama is a confidential onchain finance protocol built around Fully Homomorphic Encryption (FHE) technology. The product portfolio consists of the Zama Protocol as the core platform, the ERC-7984 Confidential Token Standard, the Zama App for user-facing DeFi access (Shield/Unshield/Send, Earn, Swap), and the Zama SDK for developer integration. Solutions layer on top includes Confidential RWA Tokenization, Confidential Corporate Payments, Confidential Onchain Payroll, Confidential DeFi, and Confidential Token Distribution. The protocol runs natively on public blockchains including Ethereum and Solana, enabling encrypted computation on public infrastructure. The ZAMA token launched in February 2026 for protocol governance.
Differentiator
Problem solved
Functional benefit
Products and services
- Zama Protocol The foundational confidentiality protocol for public blockchains enabling applications to operate on encrypted data without exposing sensitive information. Uses Fully Homomorphic Encryption to keep inputs, outputs, and internal logic private while running on-chain on Ethereum and Solana.
- ERC-7984 Confidential Token Standard A token standard enabling confidential amounts and balances on public blockchains while maintaining public verifiability. Allows issuers to execute token operations with confidentiality typically associated with off-chain infrastructure.
- Zama App Self-serve application for accessing confidential DeFi functionality on Ethereum mainnet, including shield/unshield, send, earn (yield vaults), and swap of confidential assets.
- Zama SDK Software development kit for developers to build confidential decentralized applications using Fully Homomorphic Encryption. Includes the FHE.sol Solidity library and integrates with existing web3 development environments.
- Confidential RWA Tokenization Solution for bringing real-world assets onchain without exposing investor identities, deal terms, or cap table structure. Integrates with T-REX Ledger for institutional-grade confidentiality of tokenized assets.
- Confidential Corporate Payments Solution enabling institutions to settle, invoice, and compensate onchain without making transaction amounts visible publicly.
- Confidential Onchain Payroll Solution for paying team salaries on Ethereum mainnet using confidential USDT with amounts encrypted end-to-end via FHE, visible only to sender and recipient.
- Confidential DeFi Suite of DeFi products enabling confidential trading, staking, and yield earning on-chain without leaking positions, strategies, or counterparty data. Includes the Steakhouse Confidential USDC Prime vault for USDC yield.
- Confidential Token Distribution Solution enabling confidential vesting schedules, airdrops, and distributions on public blockchains through the ERC-7984 standard. Powered by the acquired TokenOps platform processing over $2B in token distributions.
- ZAMA Token Native governance and utility token for the Zama Protocol. Total supply of 11 billion tokens with 20% initial circulation, launched February 2026 via sealed-bid Dutch auction.
Quantifiable outcome
- $121M+ economic value encrypted on Ethereum mainnet at launch
- +4 more outcomes
Companies that use Zama
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles4 records
Zama technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration12 records
AI capability3 records
Feature6 records
Zama partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, major and flagship.
- Steakhouse FinancialcorePartnership to launch Steakhouse Confidential USDC Prime vault - the first DeFi yield product for confidential USDC stablecoins on Ethereum. Steakhouse-curated Morpho vaults have reported over $2 billion in total value locked.
- MorphocoreZama and Morpho launched the first confidential DeFi yield vault on Ethereum - the Steakhouse Confidential USDC Prime vault. Uses FHE to allow users to shield USDC into encrypted cUSDC directly on Ethereum, deposit into Morpho's existing lending vaults, and earn yield without exposing balances or strategies.
- TokenOpscoreZama acquired TokenOps, an enterprise token lifecycle management platform that has processed over $2 billion in distributions. The acquisition integrates FHE into token distribution infrastructure enabling confidential vesting, airdrops, and distributions through ERC-7984 standard.
- Apex GroupmajorApex Group committed $100 billion to move assets onchain via T-REX protocol by June 2027, integrating Zama's FHE for confidential tokenization on public blockchain infrastructure targeting tokenized real-world assets.
- T-REX LedgercoreZama integrated its fully homomorphic encryption (FHE) protocol with Apex-backed T-REX Ledger to add confidentiality layers for ERC-3643-based tokenized assets. The integration enables banks and asset managers to trade sensitive assets on public blockchains without exposing positions or transaction data while maintaining regulatory compliance.
- Kakarot (KKRT Labs)coreZama acquired Kakarot (KKRT Labs), a blockchain scalability firm backed by Vitalik Buterin, to enhance Zama Protocol's performance and achieve over 10,000 confidential transactions per second on public blockchains such as Ethereum and Solana.
- GSRflagshipGSR executed the first confidential OTC trade on Ethereum mainnet using the Zama Protocol, with transaction amounts encrypted onchain between two KYC'd counterparties, eliminating information leakage and front-running risks.
- BronflagshipBron's CFO paid team salaries on Ethereum mainnet using confidential USDT with amounts encrypted end-to-end using FHE, visible only to sender and recipient - demonstrating real-world confidential payroll deployment.
- RaycashflagshipRaycash delivers a Revolut-style banking experience with IBANs, cards, and yield fully self-custodial and powered by Zama's FHE encryption, keeping balances and transactions private while remaining compliant.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
Zama competitors and assessment
Company assessmentDirect peers
- Inco Network: Inco is a modular confidential computing network using FHE for blockchain, providing encrypted EVM execution. It is the closest direct competitor to Zama, targeting the same institutional confidential DeFi and RWA use cases on Ethereum.
- Fhenix: Fhenix is an FHE-powered L2/rollup on Ethereum enabling confidential smart contracts. It competes head-to-head with Zama on the same 'FHE for blockchain' thesis and serves a similar developer audience with comparable tooling.
Broad incumbents
- Aztec: Aztec is a privacy-focused Ethereum L2 using ZK proofs rather than FHE. It is a broader incumbent in the onchain privacy category with greater funding scale, competing for the same institutional use cases via a different cryptographic approach.
- Aleo: Aleo is a privacy-by-default L1 using ZK proofs for programmable confidentiality. It competes in the same onchain confidentiality category as Zama but as a separate chain rather than as infrastructure on Ethereum.
- Secret Network: Secret Network is a privacy-preserving L1 with encrypted smart contract execution via trusted hardware. It is an established incumbent in onchain confidentiality, addressing comparable institutional and DeFi use cases.
- Oasis Network: Oasis is a privacy-enabled L1 with confidential EVM (Sapphire) and a focus on confidential RWA and DeFi. It is an incumbent in the same confidential onchain finance category, targeting overlapping institutional and developer customers.
Emerging players
- Polyhedra Network: Polyhedra builds ZK proof infrastructure for cross-chain interoperability and verifiable computation. It is an emerging player addressing adjacent privacy and verifiability needs that intersect with Zama's confidential token and bridging use cases.
- RAILGUN: RAILGUN is a privacy protocol for DeFi on Ethereum that uses ZK to shield wallet balances and transaction history. It is an emerging competitor focused specifically on private DeFi — overlapping with Zama's Confidential DeFi solution.
- Nillion: Nillion is a decentralized blind computation network using MPC and other privacy-enhancing technologies. It targets confidential AI and data collaboration, intersecting with Zama's privacy-preserving computation theme but with a different tech stack.
Others
- Lit Protocol: Lit Protocol provides decentralized key management and conditional decryption using MPC and TEEs. It is adjacent infrastructure that complements (and competes with) Zama's confidential computing layer for access-control and authorization use cases.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Zama social profiles
Digital presenceZama financial estimates
Financial estimateRevenue estimate
Valuation estimate
Zama leadership team
Management profileNumber of profiles
Profiles5 records
Zama subsidiaries and ownership
Company hierarchySubsidiaries2 records
Zama funding detail
Funding detailFunding overview
Funding rounds5 records
Investors13 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Zama M&A and investment
M&A and investmentM&A2 records
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Zama
What does Zama do?
Zama builds a confidential blockchain protocol using Fully Homomorphic Encryption (FHE) that enables smart contracts and tokenized assets to be issued, traded, and managed on public blockchains while keeping amounts, balances, and internal logic encrypted. The company offers the Zama Protocol, the ERC-7984 confidential token standard, a developer SDK, and a self-serve Zama App, targeting institutional clients in finance, payments, payroll, real-world asset tokenization, and DeFi.
Is Zama a public or private company?
Zama is a private company. It is classified as venture growth investor backed and is currently operating.
When was Zama founded?
Zama was founded in 2019. It employs 51 to 100 people.
Where is Zama based?
Zama is headquartered in Zug, Switzerland, in the Europe region.
How does Zama make money?
Two revenue lines are on record. Protocol Fees are the primary driver. The others are token Economics.
Who are Zama's main competitors?
Direct peers on record are Inco Network and Fhenix. Broad incumbents are Aztec, Aleo, Secret Network and Oasis Network. Emerging players are Polyhedra Network, RAILGUN and Nillion. Lit Protocol is listed as an others.
Does Zama have an API?
Yes. Zama provides an SDK for developers to build confidential decentralized applications using Fully Homomorphic Encryption. The SDK is framework-agnostic and integrates with existing web3 development environments. Documentation available at docs.zama.org/protocol/sdk. The SDK is referenced as a universal FHEVM SDK for creating confidential dApps. Developer documentation is at docs.zama.org/protocol/sdk.
What industry is Zama in?
Zama's product category is Blockchain Privacy Infrastructure. Its primary akta.pro industry code is FSAPAIAA, Permissioned Blockchain Platforms & Frameworks (Hyperledger, Corda, Quorum), with a secondary code of FSAPAIAH, Compliance, Risk & RegTech for Tokenized Assets (KYC/AML, sanctions, travel rule, reporting). Its NAICS code is 522320 and its SIC code is 6199.