Woofun AI reports that EthSystems has officially launched as a specialized engineering and research firm. The organization was founded by the team behind the Ethereum Foundation’s Institutional Privacy Working Group and secured seed funding from BitMine, Sharplink, Joe Lubin, and other ecosystem supporters.

The company aims to develop privacy technologies allowing banks and asset managers to execute large-scale transactions on Ethereum without exposing sensitive data. As a spin-off from the Ethereum Foundation, EthSystems focuses on application-level architecture, distinct from Ethlabs' core protocol work and Ethereum Institutional's engagement efforts.