Revolut lists Zama token across the European Economic Area

Zama has listed its native $ZAMA token on Revolut across the European Economic Area, giving the privacy-focused blockchain project access to a fintech platform serving more than 70 million customers.

Zama said on Monday that the listing also puts $ZAMA in front of more than 15 million Revolut customers who already use the app to trade cryptocurrencies, while allowing existing users to purchase the token without opening another account or completing additional identity checks.

Trading fees start at zero through Revolut’s main app, according to the company. Users can buy and hold $ZAMA alongside other supported assets, while those who prefer self-custody can withdraw the token from Revolut to an external wallet.

The ability to move $ZAMA onchain adds another distribution route for a token launched in February, when Zama used a sealed-bid Dutch auction that kept bids encrypted while processing more than $121 million on Ethereum. The company described the sale as the first large-scale production deployment of its fully homomorphic encryption technology on Ethereum mainnet.

Zama token reaches Revolut’s European users

Revolut has been adding crypto services alongside its banking and investment products, including tools designed to move assets between conventional accounts and blockchain networks.

In May, crypto.news reported that Revolut had launched its first physical crypto card in the UK and EEA, linking customers’ cryptocurrency balances to a payment card accepted wherever Visa and Mastercard are supported. Revolut converts the selected crypto balance into fiat at the point of purchase, with merchants receiving conventional currency rather than digital assets.

The company said at the time that it served more than 70 million users globally. Its crypto card rollout followed a full UK banking licence received in March 2026 and additional regulatory permissions for investment products in the country.

For $ZAMA holders in the EEA, Revolut’s support extends past buying and holding the asset. Zama said users can withdraw the token to self-custody wallets because Revolut supports onchain cryptocurrency transfers in the region.

Rather than requiring users to register with a separate crypto exchange, the listing places the asset inside an account that existing Revolut customers may already use for banking, payments and crypto trading.

Zama uses FHE to keep blockchain activity encrypted

Zama develops blockchain confidentiality infrastructure using fully homomorphic encryption, commonly known as FHE. The cryptographic method allows computations to take place on encrypted information without first exposing the underlying data.

Applied to public blockchains such as Ethereum, Zama says FHE can keep information including balances, transaction amounts and financial positions encrypted while smart contracts continue processing the data.

The company has compared the technology with the introduction of encrypted web traffic, calling confidential blockchain infrastructure an “HTTPS moment” for the industry.

“Privacy is something people expect everywhere else in their financial lives, but onchain they simply haven’t been able to have it,” Zama co-founder and CEO Rand Hindi said.

Unlike privacy systems that route transactions through a separate blockchain, Zama’s approach is designed to add confidentiality to applications operating on existing networks. Its deployments have expanded into lending, token distribution and tokenized assets as the company moves FHE technology from testing into live financial products.

Zama’s work on blockchain privacy predates the token launch. In June 2025, the company raised $57 million in a Series B funding round involving Pantera and Blockchange, taking its reported funding to $130 million and giving the company a fully diluted valuation of $1 billion, as covered at the time.

Its earlier Series A round had brought in $73 million for development of FHE infrastructure, with the funding forming part of a period in which investors were allocating capital to cryptographic and blockchain infrastructure projects.

Confidential DeFi has moved onto Morpho

One of Zama’s more recent production deployments came through decentralized lending protocol Morpho, where it worked with Steakhouse Financial to introduce the Steakhouse Confidential Prime $USDC vault on Ethereum in June.

Instead of depositing ordinary $USDC, users place confidential $USDC, or cUSDC, into the vault. Zama’s FHE technology keeps individual balances and transaction amounts encrypted while the deposited assets are used through a lending strategy built on Morpho markets.

By July 16, Zama said deposits had reached $23.23 million, making the product the eighth-largest $USDC vault across Morpho V1 and V2 on Ethereum at the blockchain snapshot cited by the company. The figure had risen from more than $14 million reported by Zama on July 2. The confidential vault also included a 12-week rewards program alongside yield generated through the underlying lending strategy.

Steakhouse Financial curates the strategy, while Morpho supplies the lending infrastructure and Zama handles confidentiality. Assets deposited through the structure ultimately enter lending markets backed by collateral including wrapped Bitcoin, Coinbase Wrapped BTC and wrapped staked Ether.

The product has also provided an early test of how encrypted blockchain transactions interact with regulatory and legal requirements. In May, a U.S. court order led Circle to temporarily freeze a Zama contract holding about $12.5 million in $USDC, according to previous reporting. The order was later lifted, and the funds returned to normal operation, while Zama accelerated work on controlled-disclosure and compliance tools.

$ZAMA launch followed encrypted Ethereum auction

The Revolut listing comes about six months after Zama introduced its native token through the February auction.

Rather than exposing bids during the process, the sale used the company’s encryption technology to conduct a sealed-bid Dutch auction on Ethereum, keeping bid information private while the auction was running. Zama said more than $121 million was protected through FHE during the sale.

In May, the company also acquired TokenOps, adding infrastructure for encrypted token distributions and institutional token operations. That acquisition expanded the use of its confidentiality technology into token issuance workflows where companies may need to manage distribution information without making every underlying position publicly visible.

The Morpho integration followed in June, placing the same cryptographic system inside a DeFi lending product in which deposit positions and balances can remain encrypted.

With $ZAMA now available through Revolut in the EEA, customers who purchase the token can either keep it inside their Revolut account or transfer it onchain to a self-custody wallet, according to Zama.