Zama

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

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

• Homomorphic encryption blockchain
• Confidential smart contracts
• Private onchain finance
• Encrypted blockchain protocol
• Privacy preserving DeFi

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. 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.
2. 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

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core 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

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

AI capability3 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered core, major and flagship.

• Steakhouse FinancialcoreTechnology or Integration · 18 June 2026Partnership 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.
• MorphocoreTechnology or Integration · 17 June 2026Zama 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.
• TokenOpscoreStrategic or Co-development Partner · 20 May 2026Zama 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 GroupmajorTechnology or Integration · 7 May 2026Apex 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 LedgercoreTechnology or Integration · 24 March 2026Zama 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)coreStrategic or Co-development Partner · 5 November 2025Zama 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.
• GSRflagshipTechnology or IntegrationGSR 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.
• BronflagshipTechnology or IntegrationBron'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.
• RaycashflagshipTechnology or IntegrationRaycash 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

Direct 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

• Xx.com/zama_fhe
• GitHubgithub.com/zama-ai
• LinkedInlinkedin.com/company/zama-ai

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds5 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zama