Pantera Backs TransCrypts with $15M Seed Round to Expand Blockchain Identity Platform

Pantera Capital has led a $15 million seed round for TransCrypts, a blockchain startup that enables individuals to own and share verified credentials. The funds will be used to expand the company's credential verification system into healthcare and education, following its recent HIPAA certification. TransCrypts offers a platform for employment verification, allowing users to encrypt and share their records directly with employers and others without intermediaries. The company serves approximately 4 million users and has over 450 enterprise clients. The expansion into new sectors aims to enhance tools for verifying credentials in real-time, potentially speeding up processes such as hiring and admissions. This initiative comes as identity fraud and deepfake scams continue to rise, highlighting the importance of decentralized identity systems. Founder Zain Zaidi established TransCrypts after experiencing frustrations with lost transcripts during his graduate school application process. The successful seed funding signals growing confidence in blockchain-based identity solutions as a safeguard against current fraud risks.

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