Shiba Inu Secures $12M for New Crypto Encryption Tech

Author : Andrew Stauss | Published On : 24 Apr 2024

Shytoshi Kusama, leader of the Shiba Inu project, recently secured a $12 million investment from top venture capital firms, including Cypher Capital, following strategic travels to Hong Kong, Japan, and the United States. This funding will support Shiba Inu’s development of Fully Homomorphic Encryption (FHE) on the blockchain, facilitated through the upcoming TREAT token.

Partnering with Zama, a leader in encryption technology, this venture aims to strengthen Shibarium, Shiba Inu’s blockchain platform, and enhance its security and utility in digital transactions. Kusama’s tweet hinted at further growth opportunities, including potential expansions and partnerships, raising excitement within the SHIB community.