Odaily News YZi Labs announced that it led a $16 million financing for Sign, an on-chain infrastructure for token distribution and credential verification. This is its first announced investment, with participation from Altos Ventures, HackVC and Amber Ventures. Sign is aggregating verified credentials on the chain to build a larger network, thereby creating a more transparent and secure token distribution infrastructure.
“Proper distribution builds trust, and verification is an essential part of that,” CZ said in an email. “As more and more people come on-chain, this will become a critical part of the infrastructure.”
By focusing on everyday applications such as signing contracts with EthSign, distributing and managing tokens through TokenTable, and on-chain credential verification with Sign Protocol, Sign is paving the way for billions of Web2 users to join Web3 at scale.
Founded in 2021, Sign reported $15 million in revenue in 2024, and its full-chain authentication protocol is now serving a growing number of use cases, according to the company’s December 2024 statement. Sign is trusted by more than 200 projects, including Movement, Starknet, and ZetaChain.
Sign plans to use the new funds to expand collaborations with centralized exchanges and governments, explore AI-driven applications, and launch its native token to strengthen its ecosystem.