According to The Block, Aztec Labs has acquired Obsidion, the company behind the open-source privacy authentication tool ZKPassport. Obsidion’s co-founders, Michael Elliot and Theo Madzou, along with their team, will join Aztec Labs to continue developing ZKPassport and related applications. Aztec Labs is building the Ethereum privacy Layer 2 network Aztec Network, having raised approximately $60 million worth of ETH through its AZTEC token sale last year and secured around $125 million in venture capital.
Aztec Labs Acquires Obsidion, Developer of ZKPassport
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Summary
Aztec Labs has acquired Obsidion, the developer of ZKPassport, an open-source privacy verification tool. The Obsidion team, including co-founders Michael Elliot and Theo Madzou, will join Aztec Labs to advance ZKPassport and related projects. Aztec Labs is building the Ethereum privacy layer, Aztec Network, which is preparing for a network upgrade. The company raised approximately $60 million in ETH through the AZTEC token sale last year and attracted around $125 million in venture capital. This development occurs amid ongoing Ethereum news surrounding layer-2 and privacy advancements.
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