Pantera Capital and Jump Crypto Bet Big on Humanity Protocol

In its latest funding round, Humanity Protocol, a decentralized digital identity platform, secured $20 million in investments, led by Pantera Capital and Jump Crypto. The funding propelled the company’s fully diluted valuation to $1.1 billion.

The announcement was posted on the project’s official X page.

With cyber threats like fake identities, bots, and deepfake scams on the rise, Humanity Protocol is pioneering a secure, blockchain-driven identity system. Unlike government and banking IDs, this decentralized solution gives users complete ownership of their data, protecting it from censorship, third-party control, and external tampering.

Using a cutting-edge combination of palm recognition and blockchain, the project provides individuals with a secure and self-sovereign identity verification system. Users retain complete control over their personal data, ensuring that their digital presence remains both private and secure.

This initiative has attracted the support of Pantera Capital and Jump Crypto, two major investment players in the blockchain space. Pantera Capital, established in 2013, has backed some of the most influential projects in crypto, including Bitstamp, Circle, and Ethereum’s foundational development.

Jump Crypto, a subsidiary of Jump Trading, is well known for its involvement in high-stakes digital asset transactions. The firm is a key player in funding DeFi ecosystems, smart contract applications, and blockchain scalability projects, prioritizing investments in startups that enhance the long-term resilience of the crypto market.

The endorsement from Pantera Capital and Jump Crypto is a testament to the pioneering vision behind Humanity Protocol and its potential to reshape digital identity systems.

The $20 million raised will fuel the next phase of growth, with a focus on business expansion, Web3 interoperability, and the development of new identity authentication tools. A key part of this strategy involves integrating Proof of Humanity and Human ID, reinforcing the platform’s ability to deliver trusted digital identities in a decentralized framework.

Terence Kwok, the founder of Humanity Protocol, commented: “At Humanity Protocol, we’re committed to empowering individuals with digital identities that are truly their own. This investment from Jump Crypto and Pantera Capital brings us one step closer to realizing a future where trustless, decentralized identity solutions are the norm.”

Earlier, in May 2024, the company had already raised $30 million, catapulting its valuation to $1 billion. This achievement demonstrated the increasing recognition of digital identity as a high-potential sector in the blockchain space.