EthSystems, a new engineering and research company, publicly launched on July 14, 2026, with backing from Bitmine Immersion Technologies, Sharplink, and Ethereum co-founder Joe Lubin. The firm is building privacy technology that allows banks, asset managers, and other regulated institutions to execute transactions on Ethereum without exposing sensitive trade details or client identities.
Founded by the team that led the Ethereum Foundation's Institutional Privacy Task Force (IPTF), EthSystems has already published a year of open-source work. The company aims to bridge the gap between institutional adoption and the privacy requirements of regulated entities, ensuring that each party to a transaction sees only what it is entitled to without compromising Ethereum's decentralization.
The Need for Institutional Privacy
Banks and asset managers are increasingly exploring stablecoins, tokenized assets, and on-chain settlement. However, meaningful adoption requires systems that protect commercially sensitive information, satisfy regulatory compliance, and integrate with existing infrastructure. EthSystems builds technology that lets institutions transact on Ethereum while keeping trade details and counterparty identities confidential.
The company joins two other organizations recently spun out of the Ethereum Foundation: Ethlabs, which focuses on core protocol and infrastructure, and Ethereum Institutional, which handles engagement and market intelligence. EthSystems operates at the applied technical layer, translating institutional requirements into production systems.
Founding Team and Backers
EthSystems' founding team includes Mo Jalil (CEO), Oskar Thorén, and Aaryamann Challani, who previously built and led the IPTF. Their combined experience spans the Ethereum Foundation, Goldman Sachs, and Status, an early Ethereum mobile client. The team has worked directly with central banks, regulators, and top-tier financial institutions over the past year.
Key backers include Bitmine (NYSE: BMNR), Sharplink (Nasdaq: SBET), and Joe Lubin. Tom Lee, Chairman of Bitmine, stated that the next $100 trillion of assets will not migrate on-chain without institutional-grade privacy and security. Joseph Chalom, CEO of Sharplink, emphasized that Ethereum's full opportunity hinges on institutions being able to use the network while preserving privacy.
Industry Perspectives
Joe Lubin, Ethereum co-founder and CEO of Consensys, noted that many previous attempts at institutional privacy were merely permissioned systems in disguise. He praised the EthSystems team for shipping real work and publishing it openly, allowing the broader ecosystem to build upon it. Lubin said Consensys looks forward to collaborating with EthSystems to deliver best-in-class privacy constructs for major financial institutions.
Mo Jalil, co-founder and CEO of EthSystems, stressed that privacy is essential for institutional commerce. "No central bank, asset manager, or government will run operations in full view of the world," he said. "Privacy isn't a feature. It is the requirement." Jalil believes this technology is the difference between Ethereum holding billions today and running trillions tomorrow.