Pantera Capital and Jump Crypto lead $20 million funding round for Humanity Protocol

Humanity Protocol, the decentralized id platform, has raised $20 million in funding. It was led by Pantera Capital and Jump Crypto.

The contemporary financing brings the absolutely diluted valuation of Humanity Protocol to $1.1 billion in accordance with an organization launch.

It builds infrastructures for people to confirm their digital presence to cut back the variety of bots, deepfakes, and different frauds in on-line areas. Folks can use the platform to scan their palms and authenticate their blockchain-based digital id whereas sustaining management over their private knowledge.

The funds will likely be used for scaling operations, integrating itself into different web3 platforms, and constructing out Proof of Humanity and Human ID.

“At Humanity Protocol, we’re dedicated to empowering people with digital identities which are really their very own,” mentioned Humanity Protocol founder Terence Kwok. “This funding from Soar Crypto and Pantera Capital brings us one step nearer to realizing a future the place trustless, decentralized id options are the norm.”

In Might 2024, Humanity Protocol raised $30 million in funding led by Kingsway Capital to deliver the agency’s whole valuation to $1 billion, The Block previously reported.

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