AvaCloud Selected by J.P. Morgan’s Project EPIC to Deliver Institutional Blockchain Privacy
The platform powering stablecoin issuance and remittances for leading financial institutions is building high-performance payment networks on Avalanche with AvaCloud.
Project EPIC uses AvaCloud’s privacy tooling to power compliant, confidential finance
Privacy has long been the missing piece to unlocking institutional adoption of blockchain. When J.P. Morgan’s Kinexys team launched Project EPIC, the goal was to prove that confidentiality and compliance could finally coexist on-chain. The resulting whitepaper - “Project EPIC: Fueling tokenized finance with on-chain enterprise privacy, identity, and composability”- featured AvaCloud Privacy Solutions as a core component of this proof.
Institutional-Grade Privacy Meets Enterprise Infrastructure
Through AvaCloud’s managed blockchain infrastructure, the Kinexys team tested three foundational applications for private finance:
Investor Onboarding through reusable, privacy-preserving digital IDs.
Fund Subscriptions with atomic settlement where both identity and investment amounts remain encrypted.
Secondary Market Trading via anonymous auctions that uphold AML and KYC compliance while keeping bidder identities and bids confidential end-to-end.
Each use case preserved full composability, allowing new financial applications to build directly atop this private foundation without re-architecting core privacy logic.
AvaCloud Privacy Solutions
Built through AvaCloud’s acquisition of EtraPay, APS introduces an advanced suite of zero-knowledge and encrypted computation technologies purpose-built for financial institutions. By combining Zero-Knowledge (ZK) proofs with Distributed Homomorphic Encryption (DHE), AvaCloud enables institutions to process and verify data privately, without ever exposing it.
“Our privacy protocols represent a breakthrough in blockchain technology,” said Nicholas Mussallem, CEO of AvaCloud. “APS bridges public and private blockchains-delivering confidential, auditable transactions that preserve both compliance and composability.”
These capabilities are extended by Distributed Identity (DID) frameworks, which integrate directly with Avalanche’s interoperable Layer 1 architecture. The result: a scalable, secure, and reusable privacy foundation for institutional on-chain activity.
How Institutions Benefit
AvaCloud’s participation in Project EPIC demonstrated real-world institutional benefits, including:
Protecting proprietary strategies for fund managers issuing on public chains.
Preventing liquidity runs through privacy-preserving market mechanisms.
Unlocking secondary liquidity for illiquid funds while keeping investor identities private.
Empowering transfer agents with speed and selective transparency for auditing and compliance.
By enabling confidential transactions, verifiable digital IDs, and composable privacy modules, AvaCloud helps institutions operate securely on-chain without compromising performance or regulatory alignment.
Industry Perspective
“Tokenization and blockchain are poised to bring the next wave of financial transformation,” said Keerthi Moudgal, Head of Product at Kinexys Digital Assets. “Scalable, reusable privacy and digital identity solutions are essential for this vision and AvaCloud’s work in Project EPIC demonstrates exactly that.”
Why It Matters
Project EPIC confirms what institutions already know: privacy is not a preference - it’s a prerequisite. AvaCloud provides the infrastructure that makes enterprise-grade privacy possible, combining proven cryptographic systems with the performance and modularity needed for large-scale financial applications.
As tokenized finance expands, AvaCloud Privacy Solutions offer a clear path to compliant, confidential, and composable blockchain systems - empowering the next generation of institutional adoption.
About AvaCloud
AvaCloud is a managed blockchain service that empowers organizations to effortlessly build, deploy, and scale high-performance decentralized Layer 1 networks. AvaCloud provides a no-code platform, automated infrastructure, and comprehensive support - enabling institutions to innovate without the complexity of blockchain management.
To learn more, contact sales@avacloud.io or visit avacloud.io.
About Ava Labs, Inc.
Ava Labs makes it simple to launch high-performance solutions for web3, based on innovations from Avalanche. The company was founded by Cornell computer scientists who teamed up with Wall Street veterans and early web3 leaders to execute a promising vision for redefining the way people build and use open, permissionless networks. Ava Labs is redefining the way people create value with web3.
About Project EPIC by JPMC
Project EPIC is an initiative by Kinexys by J.P. Morgan (formerly known as Onyx by J.P. Morgan) exploring how privacy, identity, and composability can advance the institutional adoption of tokenized finance. Through a series of proofs of concept, Project EPIC evaluated leading blockchain privacy frameworks to determine how financial institutions can meet confidentiality and compliance requirements on-chain. The study featured multiple implementations, including AvaCloud Privacy Solutions, which showcased the use of Avalanche-based technologies such as Avacy and Distributed Homomorphic Encryption (DHE) for confidential transactions, digital identity verification, and private secondary market trading.