PANews reported on April 30 that according to Businesswire, Hong Kong Web3 startup Terminal 3 has completed a seed round of financing of US$8 million, led by Illuminate Financial and CMCC Titan Fund, with participation from Animoca Brands, Progression Fund, IDG Blockchain, Cherubic Ventures, 500 Global, Consensys Mesh, Hard Yaka and BlackPine. The decentralized identity and data privacy protocol developed by the company has served more than 8 million users, and the new funds will be used to launch enterprise-level solutions by the end of the year.

Gary Liu, co-founder and CEO of Terminal 3, said that its platform combines blockchain and zero-knowledge proof technology to provide secure data storage solutions for scenarios such as banks, government credentials and AI agents. Investor Illuminate Financial pointed out that verifiable digital identity is a key infrastructure to promote institutional adoption of encrypted assets.