The privacy DeFi platform 0xbow has completed a $3.5 million seed round financing, led by Starbloom Capital

The privacy-focused decentralized finance (DeFi) platform 0xbow announced on Tuesday the completion of a $3.5 million seed round financing, led by Starbloom Capital, with participation from Coinbase Ventures, BOOST VC, Status Research & Development GmbH, and several angel investors.

The funds will be used to expand its compliant crypto privacy technology, Privacy Pools. Privacy Pools utilize smart contracts to batch and mix user transactions, thereby hiding on-chain links while allowing users to prove their compliance with anti-money laundering and other legal frameworks. Its Associated Service Provider (ASP) system monitors deposits for suspicious activity without holding back user funds.