NEAR says financial privacy is key to bringing business treasuries onchain

NEAR Business has attracted several million dollars in assets as the protocol expands confidential payments and treasury management across more than 35 blockchains. Businesses will not move their finances onchain while every salary, supplier payment and reserve balance remains visible to competitors, Harshit Tiwari, vice president of growth at NEAR, told Crypto Briefing in a written interview following the launch of NEAR Business. The invite only platform, launched October 20, allows companies to manage payroll, vendor payments, swaps and treasury operations across more than 35 blockchains while keeping transaction details private. Tiwari said the platform has already attracted several million dollars in assets, with interest ranging from layer 1 foundations to early stage startups. Existing NEAR Intents partners are also opening treasuries to collect and store fees. “Confidentiality should be the default,” Tiwari said, arguing that public blockchains expose financial activity to competitors and potential attackers. He added that businesses need selective disclosure mechanisms to share records with auditors and regulators without making their transactions publicly accessible. NEAR ...