Ruby Protocol

Ruby Protocol operates a cross-chain privacy protocol, providing a programmable privacy-and-access control middleware framework, encrypted with zero-knowledge proofs (zkp) algorithms.

Ruby Protocol's offerings include various types of private tokenization (zkToken, zkNFT, zkDID, etc.), a private payment bridge (zkConnect), authentication (zkAuth), and an account/sub-account system (zkWallet). These solutions are designed to build an access control gateway across different entities and organizations in DeFi and Web3​.

Ruby Protocol's products can be used by businesses to perform KYC without leaking private identity information while enabling access control to various digital or physical experiences to be gated by NFT or Decentralized Identifiers. Ruby Protocol's Front End smart contracts are privacy-centric and can ensure the ownership of any digital asset in a regulatory-compliant manner. It also provides solutions for auditing automation and compliance monitoring. Ruby Protocol's solution also serves as a fundamental tool for traditional finance to transition to decentralized finance (DeFi). Furthermore, it can be used for issuing private tokens, privacy-preserving cloud computing, and building privacy-centric smart contract dApps built on the native Ruby blockchain.

Key customers and partnerships

In November 2022, Ruby Protocol announced a partnership with Arcana Network, a Web3 infrastructure built for Ethereum and EVM-based chains, to enable user data privacy and ownership and provide onboarding features for dApp users through social authentication and password-less login.

Funding and financials

The company raised USD 7.3 million in venture funding in February 2022, with participation from venture capital funds such as Digital Strategies, DFG Group, and SigNum capital and angel investors. The proceeds were used in the development of the company’s privacy-focused blockchain, along with research into new use cases and applications.