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Trust Machines is a studio and platform technology company focused on building applications within the Bitcoin ecosystem to unlock its full potential. Its core business involves developing applications on Stacks (Bitcoin's smart contract layer) to extend Bitcoin's functionality. Key products include: Leather (a self-custodial Bitcoin wallet for accessing Bitcoin Web3 apps), Gamma (an NFT platform for artists to create and sell art on Bitcoin), and Zest Protocol (a Bitcoin lending protocol allowing users to collateralize BTC to borrow stablecoins or earn yield). Trust Machines incubates third-party teams such as.locker (decentralized identity). Its technical approach leverages Stacks' Proof of Transfer (PoX) mechanism to securely bring Bitcoin assets into DeFi scenarios, aiming to transform Bitcoin from a mere store of value into programmable financial infrastructure.
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About Trust Machines
Trust Machines was founded by Stacks founder Muneeb Ali and Princeton professor JP Singh to build a Bitcoin-centric Web3 application ecosystem .
Key milestones:
- In February 2022, it announced a $150M seed round, the largest for a Bitcoin-focused company at the time, with investors including DCG and USV .
- It helped drive the Stacks Nakamoto upgrade and sBTC design, laying the foundation for Bitcoin L2 DeFi .
- It incubated Granite, a borrower-centric Bitcoin DeFi liquidity protocol supporting non-custodial lending .
- Its ecosystem projects include Zest Protocol, BitSafe, and Hermetica, covering lending, yield, and DeFi platforms .
These milestones reflect its long-term layout from infrastructure to application layers.
Co-founders: JP Singh and Muneeb Ali (Stacks founder, PhD in CS from Princeton, ex-CTO of Onename). Core executives: CEO Muneeb Ali; VP of Product & Operations Rena Shah (ex-Head of Exchange at Binance.US, former petroleum engineer at Chevron; oversees Leather Wallet, Locker identity, Granite Liquidity Protocol); Chief of Staff Gina Abrams. The team raised $150M to build a Bitcoin app ecosystem on Stacks, Lightning, etc.