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The trio behind the 
Ethereum Foundation's Institutional Privacy Task Force (IPTF) launched EthSystems today, a for-profit engineering firm aimed at helping banks, asset managers, and other regulated players transact on Ethereum without broadcasting sensitive data to the world.
Today we're launching EthSystems.
— EthSystems (@eth_systems) July 14, 2026
We build confidential systems for institutional Ethereum.
Institutions want to use Ethereum, but one of the biggest problems is the lack of built-in, modular privacy tools.
We were the Ethereum Foundation's Institutional Privacy Task Force… pic.twitter.com/Gp75lgoP0z
What's the Scoop?
- The 101: EthSystems will design confidential systems that lets each party in institutional transactions see only what they're entitled to see, while keeping compliance hooks like selective disclosure intact. Anchor backers include Bitmine, Sharplink, and Ethereum co-founder Joe Lubin.
- Proven builders: Founders Oskar Thorén, Mo Jalil, and Aaryamann Challani spent the past year running the IPTF, meeting with 100s of institutions including central banks. Their resumes span the EF, Goldman Sachs, and early Ethereum mobile client Status, where they helped build privacy infra still used across the ecosystem today.
- A year of receipts: The team arrives with a public body of opensource work, including private bond proofs-of-concept, compliance-first shielded pools for stablecoin transfers, private cross-chain atomic swaps, and the Ethereum Privacy Map. EthSystems says it will keep publishing specs and PoCs openly as it takes on paid engagements.
- Spin-out season: EthSystems is the third org to recently spin out of the EF, joining Ethlabs (core protocol work) and Ethereum Institutional (institutional education and coordination). The new firm positions itself as the applied technical layer of that trio, i.e. the commercial counterparty institutions hire when they're ready to build.
- Zooming out: Wall Street is increasingly embracing ETH the asset, as the treasury companies bankrolling this launch are proof, but Ethereum the infrastructure still has a privacy problem for regulated finance. That the EF's institutional privacy specialists now see enough paying demand to go commercial is itself a signal. The "trillions onchain" thesis will hinge on confidentiality tech, and the race to supply it is officially on.
