Dfns and Zama Partner to Unlock Institutional Liquidity on Public Blockchains Through Confidential Wallet Infrastructure

This partnership enables institutions to execute confidential and compliant transactions at scale on public blockchains, providing the required control to move global capital onchain.

Dfns has integrated the confidential token standard natively into its wallet and transaction stack, making encrypted onchain transactions available out of the box to its 400+ enterprise clients across banking, fintech, custody, RWA, and payments, starting from Ethereum and EVM chains, powered by Zama Protocol.

This integration represents a landmark step in Zama's broader vision to build the confidential layer for blockchain, where privacy is the default state for every onchain transaction. By bringing Fully Homomorphic Encryption (FHE) to the core of financial infrastructure, this partnership signals a defining shift in the institutional landscape: a future where the world's most sensitive capital can finally migrate to public blockchains without compromising confidentiality, compliance, or control.

What this makes possible

Through ERC-7984, the confidential token standard built on FHE, sensitive data including balances, transfer amounts and asset holdings, remains encrypted onchain at all times.

Developers and enterprises interact with confidential assets through the same APIs and frameworks they already use. No new operational overhead. No specialized cryptographic expertise required.

For institutions, this changes what is achievable on public blockchains:

Settlement & capital markets.

Institutional settlement today relies on delayed finality, intermediary networks, and reconciliation overhead, in part because real-time settlement on a public ledger would expose every counterparty's position and flow. For trading desks and capital markets participants on Dfns, settlement can now happen onchain with encrypted transfer amounts, without revealing order sizes.

Payments.

Transaction data , volumes, counterparties, settlement amounts , is commercially sensitive by nature. With Zama Protocol integrated in Dfns, payment providers can process institutional flows, settle cross-border payments, and execute B2B transactions without exposing amounts or balances.

Banking and custody.

Dfns’s banks and custodian clients can now manage client assets onchain without their positions becoming readable to the market. Portfolio allocations, rebalancing activity, and holdings remain encrypted, visible only to authorized parties.

Real-world assets (RWA).

Tokenized asset issuers using Dfns’s infrastructure can distribute and manage holdings while preserving investor privacy. Transfers happen without revealing who holds what, while issuers retain the ability to grant selective access to regulators or auditors as required.

Confidentiality that fits inside the compliance framework

For Dfns’s clients, adding confidentiality to institutional transactions does not mean removing compliance.

Zama Protocol provides programmable compliance through access control and selective disclosure. Privacy is the default, but institutions can grant specific parties the ability to view transaction activity. Designated addresses such as auditors or regulators can be granted the ability to decrypt balances and transfer amounts.

Think of it as the blockchain equivalent of banking privacy: transactions are private by default, but authorized parties can access records when required. Zama Protocol brings this familiar, regulator-friendly model to Dfns's enterprise clients, compatible with the compliance infrastructure they already operate.

A shared milestone

For Zama, this integration marks the next stage of ecosystem expansion: scaling adoption of default confidentiality across the full stack of onchain finance: the assets, protocols, and platforms that institutions actually use. Dfns is one of the most strategic nodes in this roadmap.

For Dfns, this extends an already enterprise-grade wallet stack into a new category: programmable, confidential transaction infrastructure purpose-built for institutional finance.

Together, this moves the industry closer to a future where privacy and transparency are no longer a trade-off institutions must navigate, where public blockchains are confidential by default, auditable by design, and fully operational for regulated finance at scale.