Fhenix, an Israel-based developer of privacy-focused blockchain infrastructure, has received investment from Japan’s Biprogy and TransLink Capital.

Biprogy is a major Japanese IT services company with a presence in financial services.

The investment will support Fhenix’s entry into Japan’s Web3 and fintech markets, including potential partnerships with local financial institutions.

Fhenix uses homomorphic encryption to enable confidential transactions on DeFi platforms.

The funding will help adapt its privacy technology for the Japanese market, where interest in privacy solutions has grown alongside more than 12 million active cryptocurrency accounts.

Fhenix and Biprogy also plan to collaborate on pilots and research related to privacy-first blockchain infrastructure in Japan.

🔗 Source: Fhenix