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Although to an untrained eye blockchain ledgers look like a list of completely arbitrary combinations of numbers, they are actually transparent emissions of personal financial data. Each time a transaction is initiated, you’re inviting friends to see each other’s bank balances, or employees to see how much money your colleagues are earning in payroll. Is this not against the common ethos of blockchain? As the Web3 community continues to get more familiar with peer-to-peer systems, this radical transparency is becoming one of the biggest catch-22’s and obstructing individuals and businesses from entering Web3.
Projects and investors have been seeking a solution that creates compliant and secure onchain privacy. One of the latest projects working on this is Houdini Swap, and they just hit a major milestone with their first institutional investment from the Web3 asset management firm, Theia Blockchain.
Houdini Swap is one of the fastest-growing solutions for compliant anonymous digital asset swapping and transfers. With Houdini Swap, users can anonymize their crypto transactions and can quickly, easily, and securely send, swap, or bridge their tokens without ever revealing their private wallets. Using Monero – a privacy-focused cryptocurrency that prevents observers from deciphering addresses, transaction amounts, address balances, and transaction histories – and by creating a compliant conduit between exchanges so that people can move funds from multiple points to reduce traceability, Houdini Swap effectively bakes privacy and anonymity into all transactions.
In less than a year, Houdini Swap has generated over $50,000,000 in swap volume – and has integrated with over 20 blockchain protocols. Now, with the recent release of its API, the project is transitioning toward becoming an infrastructure layer for blockchain projects and will offer customizable and integratable privacy-as-a-service swapping solutions to protocols, DEXs, wallets, projects, and other Web3 commercial initiatives.
Theia Blockchain is an institutional asset management firm that invests in EVM DeFi infrastructure assets through structured products with long-term buy-and-hold strategies. Theia identifies projects with strong teams, attractive fundamentals, and large addressable markets within the Internet Financial System and has extensive experience within the realms of institutional private equity, policy development, compliance, and regulation.
As a bootstrapped company up until this point, this investment accelerates the organic growth that has already made them one of the most used swapping tools in the space, with over $21 million in volume just in the last two months.
Commenting on the investment round, Lou Waroo of Houdini Swap said that his team was thrilled to partner with Theia Blockchain. He said that Theia understands the addressable market for anonymous swapping and that Theia is aligned with Houdini Swap’s vision for compliant onchain privacy.
John McNiff, the CEO of Theia Blockchain, echoed these sentiments, stating that compliant privacy technology is essential to the development of the Internet Financial System and that companies cannot be expected to pay suppliers without privacy. He stated that it is unreasonable to expect individuals to post their assets and transaction history for anyone to see, a fact that makes solutions such as those provided by Houdini Swap a must-have if the crypto, blockchain, and Web3 spaces are to achieve privacy they need for growth and user onboarding within the applicable rules of regulatory compliance.
With fresh funds at its disposal as well as experienced teams and battle-tested senior leadership, Houdini Swap is expected to continue making waves as a multichain privacy provider for protocols, wallets, and DEXs. For more updates, visit Houdini Swap’s website, Twitter, Medium and Gitbook.
