According to Fortune, crypto startup Seismic just raised $10 million in a funding round led by a16z crypto with participation from Polychain, Amber Group, TrueBridge, dao5, and LayerZero. The company has now raised a total of $17 million, though founder and CEO Lyron Co Ting Keh didn’t disclose the valuation. Seismic partners with fintech companies like Brookwell to process stablecoin payments through private blockchain rails that prevent data leaks. They’re competing against Tempo, a Stripe-backed blockchain startup that recently raised $500 million and is valued at $5 billion. The company expects to generate revenue by Q1 of next year by charging one cent per transaction.
The crypto privacy push
Here’s the thing about crypto right now: everyone’s suddenly worried about privacy. And it’s not just paranoid Bitcoin maximalists anymore. According to a16z crypto’s latest “State of Crypto” report, Google searches related to crypto privacy have absolutely surged over the past year. That’s why Seismic’s timing might be perfect. They’re basically building the plumbing that lets fintech companies offer crypto services without exposing customer data to the public blockchain. Think about it – when you’re moving serious money, do you really want every transaction visible to the entire world?
How Seismic actually works
So what does Seismic actually do? They partner with companies like Brookwell, which provides stablecoin accounts where customer money isn’t stored in traditional banks. When customers make transactions, the payment goes over Seismic’s private blockchain rails instead of public ones. That means your financial data doesn’t get broadcast to the entire network. They also work with Cred for private credit services and an unnamed business for cheaper international money transfers. It’s all about giving fintech companies the crypto infrastructure without the privacy trade-offs.
David vs Goliath
Now let’s talk about the competition. Seismic’s going up against Tempo, which just raised $500 million and is backed by Stripe. That’s a massive funding gap – $17 million versus half a billion. Co Ting Keh called Tempo “a heck of a powerhouse,” which is probably the understatement of the year. But he makes a good point: if the pie is big enough, everyone can eat. Seismic’s strategy is to be more holistic – they don’t just provide a specific service and walk away. They ask clients what else they need and how they can help them win. Basically, they’re betting that being more hands-on and customer-focused will beat having deeper pockets.
The revenue reality
Here’s the kicker: Seismic doesn’t have any revenue yet. None. They’re planning to start charging one cent per transaction and expect revenue by Q1 next year. That’s a pretty aggressive timeline, especially when you’re competing against a company that just raised 30 times more money than you. But the crypto infrastructure space is heating up fast. Major financial institutions are finally embracing crypto, and they all need privacy solutions. If Seismic can execute on their vision and actually start processing enough transactions, that one-cent-per-tx model could add up quickly. The question is whether they can scale fast enough to compete with the giants.
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