Zama and T-REX add privacy layer for tokenized real-world assets on public chains

Zama and Apex Group-backed T-REX Network introduced what they describe as an institutional-grade confidentiality layer for tokenized real-world assets, integrating Zama’s fully homomorphic encryption into the T-REX Ledger to support private activity on public blockchains.

The T-REX Ledger functions as a multichain coordination layer for compliant digital securities built on the ERC-3643 standard. Identity checks and regulatory controls sit at the token level. Zama’s approach keeps data encrypted end-to-end while allowing smart contracts to compute on it, so balances, positions and transaction details are not exposed on public networks.

Public chains offer transparency and interoperability yet reveal portfolio data and trading flows. Many large institutions have operated on private or permissioned networks as a result, which can split liquidity. The companies state the new stack is built to preserve compliance features while shielding investor identities, allocations and strategies on open infrastructure.

Apex Group, which services $3.5 trillion in assets, plans to use the T-REX Ledger as its default infrastructure for digital securities. The group has set a target of $100 billion in tokenized assets by June 2027.

Zama co-founder and CEO Dr. Rand Hindi said privacy isn’t optional for institutions using blockchains; it’s core infrastructure. He added that the company aims to make Zama the privacy layer for public networks, so institutions and investors can operate onchain with the same level of confidentiality they expect offchain.

Tokenization converts assets such as funds, bonds and equities into blockchain-based tokens that can be issued and transferred digitally. Proponents point to faster settlement and broader access, while adoption in public settings has been limited by data exposure and the operational burden of running private systems.

T-REX Network reports that the ERC-3643 framework it uses is linked to more than $32 billion in tokenized assets. Fully homomorphic encryption lets computations run on encrypted data without decryption, allowing counterparties and applications to verify and execute transactions while keeping underlying information hidden.

Zama points to recent progress with encrypted activity. Earlier this year, the company launched the ZAMA token and introduced a privacy metric, and it reports that more than $121 million in value has been processed in encrypted form on Ethereum using its technology.

The partners plan for the confidentiality layer to support issuance, trading and settlement across multiple public networks while maintaining interoperability and regulatory controls.