Ika
Ika operates a parallel MPC network providing dWallets—decentralized, programmable multi-chain wallet primitives that split signing authority between users and the network, enabling bridgeless control of assets across blockchains from Sui and Solana. Pre-revenue, developer-first Web3 infrastructure serving DeFi, custody, and AI-agent use cases.
- Company typePrivate
- Founded2024
- HeadquartersKormangala, India
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Ika does
Ika operates a parallel Multi-Party Computation (MPC) network that provides dWallets—decentralized, programmable, multi-chain wallet primitives enabling users and Solana programs to control assets on any blockchain without bridges or wrapped tokens. Its core technology, 2PC-MPC (Two-Party Computation with Multi-Party Computation), splits signing authority between the user and the network such that no single party—including Ika itself—can reconstruct the full private key, achieving what the company frames as the ZUD framework: zero-trust, usability, and decentralization simultaneously. The network is initially built on the Sui blockchain and is expanding to Solana (devnet Q2 2026, mainnet planned for later in 2026), supporting native signing for Bitcoin, Ethereum, ZEC, and any other chain across multiple signature curves. Supporting products include a TypeScript SDK distributed via npm, open-source protocol code on GitHub, the REFHE fully homomorphic encryption research line, and the Wallet-as-a-Protocol (WaaP) integration developed with human.tech.
The company monetizes through usage-based protocol fees denominated in its upcoming IKA token, plus SUI tokens for on-chain gas. Go-to-market is api-first and community-led: a TypeScript SDK on npm, developer documentation at docs.ika.xyz, GitHub-published protocol code, an RFP program funding external builders, and strategic partnerships such as human.tech's WaaP, which brings nearly 3 million verified users and over 43 million credentials into the Ika-secured stack. Customer segments span DeFi protocols, enterprise custody and treasury operators, wallet infrastructure providers, AI-agent platforms, and cross-chain end users.
Ika is venture-backed, having raised over $21 million from a broad Web3 syndicate that includes the Sui Foundation, DCG, FalconX, Big Brain Holdings, Blockchange, Amplify, Liquid2 Ventures, Node Capital, dWallet Labs, Lightshift, Zero Knowledge, Token Bay Capital, Rubik, Tykhe Block, Dispersion Capital, NotVCs, Cerulean, Earl Grey Capital, No Limit Holdings, Insignius, Collider, and ALT—reaching a $600 million FDV peak private valuation in April 2025. The operating entity is dWallet Labs Ltd. (Tel Aviv, Israel) with the Ika Foundation incorporated in Switzerland; a secondary office is mentioned in Kormangala, India. The company is pre-revenue, with the IKA token not yet launched.
Ika firmographics
Firmographics- Name
- Ika
- Legal name
- dWallet Labs Ltd.
- Website
- https://ika.xyz
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Ika operates a parallel MPC network providing dWallets—decentralized, programmable multi-chain wallet primitives that split signing authority between users and the network, enabling bridgeless control of assets across blockchains from Sui and Solana. Pre-revenue, developer-first Web3 infrastructure serving DeFi, custody, and AI-agent use cases.
- Ownership category
- akta.pro rank
Ika industry classification
Industry- Product category
- Blockchain Infrastructure / Decentralized MPC Networking
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Cross-Chain Wallet & Asset Routing Infrastructure (FSADACAJ)
- akta.pro secondary industries
- Cross-Chain Developer Tooling (messaging SDKs, relayers, interoperability APIs) (FSAPABAF), Wallet Infrastructure (SDKs, Wallet-as-a-Service) (FSADACAD), Account Abstraction & Smart Wallet Tooling (AA SDKs, paymasters, session keys) (FSAPABAK), RPC / Node API Infrastructure Providers (FSADAKAD)
Keywords
Where Ika is headquartered
LocationHeadquarters
- HQ city
- Kormangala
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Ika business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations
Revenue model
- Protocol Fees (IKA Token): All dWallet operations (DKG, presign, sign, future sign) require fees paid in IKA tokens for protocol fees and SUI tokens for gas fees. The IKA token will launch natively on Sui.
- SUI Gas Fees: SUI tokens required for blockchain gas fees associated with on-chain operations on Sui.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Protocol fees for dWallet operations (DKG, presign, sign, future sign) paid in IKA tokens |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels7 records
Ika product offering
Product offeringCore offering
Ika operates a parallel Multi-Party Computation (MPC) network that powers dWallets — decentralized, programmable multi-chain wallet primitives enabling users, programs, and AI agents to control assets on any blockchain (Bitcoin, Ethereum, Solana, ZEC, etc.) without bridges, wrapped tokens, or centralized custodians. The core cryptographic mechanism, 2PC-MPC, splits signing authority between a user-held local share and a network share operated by 100+ validator nodes, so neither party can sign alone. Ika distributes this capability via a TypeScript SDK, open-source protocol code on GitHub, a Solana pre-alpha gRPC API, and the Wallet-as-a-Protocol (WaaP) partnership with human.tech.
Product overview
Ika is a parallel MPC (Multi-Party Computation) network that provides dWallets — decentralized, programmable multi-chain wallet primitives enabling users to control assets on any blockchain without bridges or trusted intermediaries. The core product is the dWallet technology built on 2PC-MPC cryptography that splits signing authority between users and the Ika network. Ika is expanding from its Sui foundation to Solana, positioning itself as infrastructure for Bridgeless Capital Markets. Supporting products include the TypeScript SDK for developers, Wallet-as-a-Protocol (WaaP) for wallet infrastructure, and REFHE for fully homomorphic encryption research.
Differentiator
Problem solved
Functional benefit
Brands
- Wallet-as-a-Protocol (WaaP): A decentralized wallet infrastructure solution developed in partnership with human.tech, secured by Ika's 2PC-MPC cryptography for zero-trust wallet operations.
- dWallets
Products and services
- dWallets Decentralized, programmable multi-chain wallet primitives that enable users, Solana programs, and AI agents to control assets on any blockchain without bridges, wrapped tokens, or trusted intermediaries. Built on 2PC-MPC cryptography that splits signing authority between a user share and a network share across 100+ validator nodes, achieving zero-trust signing with sub-second latency. Supports Bitcoin, Ethereum, ZEC, Solana, and any chain via SECP256K1, SECP256R1, ED25519, and RISTRETTO.
- Ika TypeScript SDK Developer SDK for building with Ika dWallets on Sui and Solana. Handles Distributed Key Generation (DKG), encryption, signing, and verification operations; available via npm (@ika.xyz/sdk) with Solana gRPC support at https://pre-alpha-dev-1.ika.ika-network.net:443.
- Wallet-as-a-Protocol (WaaP) Decentralized wallet infrastructure jointly developed with human.tech, secured by Ika's 2PC-MPC cryptography. Splits private keys into a user-held local share and a network share operated by Ika's decentralized MPC nodes so that no single entity — including human.tech — can access or reconstruct the full private key. Supports Bitcoin, Solana, and Ethereum EIP-1193 compliant wallets, with seedless, social-login onboarding.
- REFHE (Fully Homomorphic ALU) Fully homomorphic encryption scheme supporting arithmetic and logical operations on large machine words (plaintexts of form Z_2^n, such as n=64). Built on the BGV framework with modified number field selection and message encoding. Positioned as enabling encrypted capital markets applications on Solana via the team's "Encrypt" announcement.
Quantifiable outcome
- Sub-second multi-chain signing latency
- +3 more outcomes
Companies that use Ika
Customer profileNamed customers1 record
Segments5 records
Ideal customer profiles4 records
Ika technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature6 records
Ika partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and flagship.
- Human Techcorehuman.tech launched Wallet-as-a-Protocol (WaaP) on the Sui blockchain using Ika as the censorship-resistant coordination layer. WaaP provides developers with a decentralized embedded wallet solution enabling seedless, social login onboarding with cryptographic security guarantees. The integration splits signing authority between user devices and infrastructure so neither party can move funds alone. This brings human.tech's existing infrastructure—nearly 3 million verified users, over 43 million credentials issued, and more than $500 million in protected value—to Sui's ecosystem.
- Human TechflagshipIka partnered with human.tech to introduce Wallet-as-a-Protocol (WaaP), a new decentralized wallet infrastructure secured by Ika's 2PC-MPC cryptography. WaaP keeps user key shares local while Ika's decentralized network operates the co-signing share under zero-trust conditions. The framework ensures no single entity, including human.tech, can access or reconstruct the full private key. Integration reportedly takes minutes with copy-paste examples. This partnership extends to cross-chain coordination through Ika's MPC network on Sui.
- dWallet LabscoredWallet Labs Ltd. is the operator of the Ika platform websites (ika.xyz and dwalletlabs.com) and maintains the Ika protocol and ecosystem. The company is related through common control with the dWallet Foundation (incorporated in Switzerland).
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Ika competitors and assessment
Company assessmentDirect peers
- Particle Network: Chain-abstraction and wallet-as-a-service platform that enables cross-chain signing and account abstraction. Comparable to Ika's WaaP positioning around chain-abstracted UX and decentralized custody for end users.
- Threshold Network: Threshold cryptography network (merger of NuCypher and Keep) providing threshold signing, proxy re-encryption, and decentralized custody primitives. Closely comparable as a cryptographic infrastructure network competing for the same on-chain signing and custody workloads.
- Web3Auth (Torus): Provides non-custodial key management and wallet infrastructure SDKs that split keys across user, auth provider, and device. Closely comparable to Ika's WaaP and dWallet infrastructure for embedded wallet and chain-abstracted onboarding.
- Lit Protocol: Decentralized key management and threshold cryptography network that distributes signing authority across a node network for wallet, auth, and conditional signing use cases. Directly comparable to Ika's dWallet MPC primitive and targets similar developer audiences.
Broad incumbents
- Fireblocks: Established institutional MPC custody and treasury platform serving banks, exchanges, and asset managers. Broad incumbent in MPC-based custody that Ika's dWallets and enterprise-custody use cases directly compete against, though Fireblocks is centralized.
- LayerZero: Leading omnichain messaging protocol for cross-chain applications. Competes for the same cross-chain developer mindshare Ika is courting, particularly on Solana where both layers aim to be integration primitives.
- Wormhole: Dominant cross-chain messaging protocol connecting dozens of chains. Ika's "bridgeless" pitch is positioned against Wormhole and similar bridging infrastructure, though Wormhole uses a different trust model.
Emerging players
- DFNS: Wallet-as-a-service platform offering MPC-based key management and APIs for digital asset custody. Closely comparable to Ika's WaaP and dWallet APIs for enterprise and developer use cases.
- Turnkey: API-first non-custodial wallet infrastructure with threshold signing for embedded wallets and on-chain applications. Comparable to Ika's developer SDK and API distribution model, though more centralized in custody design.
- ZetaChain: Layer-1 blockchain for cross-chain messaging and native multi-chain smart contracts that avoids bridges. Adjacent competitor addressing the same cross-chain interoperability problem Ika targets via dWallets.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Ika social profiles
Digital presenceIka financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ika leadership team
Management profileNumber of profiles
Profiles2 records
Ika funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ika M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ika
What does Ika do?
Ika operates a parallel Multi-Party Computation (MPC) network that powers dWallets — decentralized, programmable multi-chain wallet primitives enabling users, programs, and AI agents to control assets on any blockchain (Bitcoin, Ethereum, Solana, ZEC, etc.) without bridges, wrapped tokens, or centralized custodians. The core cryptographic mechanism, 2PC-MPC, splits signing authority between a user-held local share and a network share operated by 100+ validator nodes, so neither party can sign alone. Ika distributes this capability via a TypeScript SDK, open-source protocol code on GitHub, a Solana pre-alpha gRPC API, and the Wallet-as-a-Protocol (WaaP) partnership with human.tech.
Is Ika a public or private company?
Ika is a private company. It is classified as venture growth investor backed and is currently operating.
When was Ika founded?
Ika was founded in 2024. It employs 11 to 50 people.
Where is Ika based?
Ika is headquartered in Kormangala, India, in the Asia region.
How does Ika make money?
Two revenue lines are on record. Protocol Fees (IKA Token) is the primary driver. The others are SUI Gas Fees.
Who are Ika's main competitors?
Direct peers on record are Particle Network, Threshold Network, Web3Auth (Torus) and Lit Protocol. Broad incumbents are Fireblocks, LayerZero and Wormhole. Emerging players are DFNS, Turnkey and ZetaChain.
Does Ika have an API?
Yes. Ika provides a TypeScript SDK for building with dWallets on Sui and Solana. The SDK handles Distributed Key Generation (DKG), encryption, signing, and verification operations. For Solana pre-alpha, a gRPC API is available at https://pre-alpha-dev-1.ika.ika-network.net:443 with Solana RPC at https://api.devnet.solana.com. The SDK is available on npm (@ika.xyz/sdk) and supports DKG operations, encryption operations, signing operations, and utility functions. The Solana pre-alpha supports 11 protocol operations (DKG, Sign, Presign, FutureSign, ReEncryptShare, etc.) across 4 curves and 7 signature schemes, though in pre-alpha mode these use a mock signer without real MPC security guarantees. Developer documentation is at docs.ika.xyz.
What industry is Ika in?
Ika's product category is Blockchain Infrastructure / Decentralized MPC Networking. Its primary akta.pro industry code is FSADACAJ, Cross-Chain Wallet & Asset Routing Infrastructure, with a secondary code of FSAPABAF, Cross-Chain Developer Tooling (messaging SDKs, relayers, interoperability APIs). Its NAICS code is 518 and its SIC code is 7370.