Zama has raised $57 million in a Series B funding round to expand its end-to-end encryption solutions for public blockchains, which it said enables developers to build on-chain financial applications that are secure, scalable and compliant. The company will use the new funding to support its mainnet launch, ecosystem adoption and research efforts to make financial transactions built with Fully Homomorphic Encryption (FHE) scale to thousands of transactions per second. FHE enables data processing without decryption, so encryption is maintained during both transit and processing. That means “all online activities can now be truly end-to-end encrypted.” Zama’s FHE solutions are likely to benefit public blockchains first but could benefit any industry that uses cloud computing and requires greater confidentiality and compliance. Zama is commercializing an entirely new generational technology that could redefine how confidentiality is handled in the blockchain and, ultimately, in all of cloud computing. Zama’s FHE protocol is efficient and developer-friendly and supports decentralized applications (dApps) for AI, crypto and cloud. The protocol paves the way for on-chain identity, financial and consumer applications — previously out of reach for developers.