PANews reported on January 27 that according to Reuters, identity verification blockchain company Humanity Protocol announced on Monday that its fully diluted valuation has reached US$1.1 billion after raising US$20 million in a round of financing jointly led by Pantera Capital and Jump Crypto.

The company is building a system that will use palm scans to verify that online accounts belong to real users. The company plans to use the funds to launch its products more widely in the coming months. Humanity Protocol is also about to launch its own crypto token, and its founder Terence Kwok said: "Final preparations are currently being made to ensure a smooth launch."