Project Eleven has announced the custodial platform Strongpoint, designed for institutional investors. The service will protect digital assets as blockchains transition to post-quantum cryptography. The first partner of the project is the Zcash Foundation, which will help build the platform's architecture with a focus on privacy and key management requirements.
Strongpoint will allow companies to avoid the need to rebuild audit and transaction approval systems with each change in encryption standards. The platform will provide a unified security framework, even if the main cryptography changes. Project Eleven CEO Alex Pruden noted that quantum computing threatens the traditional custodial security model. According to CEO Alex Pruden, quantum computing disrupts the conventional custodial security model. If networks switch to different standards, businesses will have to constantly rebuild infrastructure from scratch. Project Eleven analysts conducted a study of the 20 largest first-level blockchains by capitalization and found that only 10 of them have published roadmaps for transitioning to post-quantum protection. At the same time, projects are considering at least six different signature schemes, contributing to market fragmentation.
The platform's launch into industrial operation is scheduled for the fourth quarter of 2026, and developers are currently testing the system with a closed group of partners. Project Eleven was founded in 2024 by Alex Pruden and Conor Deegan. In January 2026, the company completed a Series A round of $20 million, led by Castle Island Ventures, bringing the total funding raised to $26 million. Previously, in July, Project Eleven introduced an early prototype of zero-knowledge proof for a mechanism to protect bitcoin rights in the event of a quantum hack. In September, the company acquired Riva Labs, a firm specializing in post-quantum algorithms and wallets.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.