NEAR Protocol Launches Confidential Multisig Treasury for Teams

NEAR Protocol launched NEAR Business on Oct. 20, giving crypto teams a confidential multisig treasury for cross-chain payments and asset management while requiring designated signers to approve transactions.

The service supports at least 35 blockchains. Teams can use one dashboard to pay staff and vendors, move assets between networks, set approval rules for payments, bulk transfers and swaps, and export transaction records for accounting and audits.

Treasury membership, roles and approval votes are visible onchain, but the transaction details behind those votes remain confidential. Payments to public wallets arrive from a settlement account, so confidentiality of the treasury’s approval record does not mean every external payment is absent from public transaction records.

NEAR Business uses NEAR Intents’ cross-chain infrastructure to handle transactions between networks. Each team’s approval rules are enforced by its treasury contract, and NEAR Business holds no key that can override them.

There is no subscription or per-user charge. NEAR currently covers network fees for the first 1,000 actions each month, while swaps carry a 0.35% fee.

Access is initially limited to invited teams as NEAR brings its first group of users onto the service.