NEAR launches NEAR Business, a confidential treasury platform spanning 35+ blockchains
In brief
- NEAR Protocol launched NEAR Business, a confidential multisig treasury platform, on Tuesday.
- NEAR Business supports Bitcoin, Ethereum, Solana, NEAR and assets on more than 35 blockchains.
- Amounts, recipients and balances stay confidential while governance records remain verifiable, NEAR says.
- NEAR Business is free to start; swaps carry a 0.35% fee, according to Crypto Briefing.
- Access was initially invite-only, with organizations requesting entry via the NEAR Business website.
What NEAR Business does
According to NEAR's announcement, as reported by Crypto Briefing, the platform supports Bitcoin, Ethereum, Solana and NEAR, plus assets on networks including Arbitrum, Base, Avalanche, XRP Ledger, Sui and TON. Teams can pay employees and vendors, execute swaps and manage treasury balances from a single dashboard. Every transaction needs approval under rules each organization sets for itself.
Privacy is the core pitch here. NEAR says the platform keeps transaction amounts, recipient information and treasury balances confidential while maintaining publicly verifiable governance records (that's NEAR's own description of how the product works).
The rest of the feature list is aimed squarely at finance teams. It includes bulk payments, hardware wallet signing, support for multiple treasuries and transaction records that can be exported for accounting and auditing.
How it works under the hood
NEAR Business operates through NEAR Intents, the protocol's infrastructure for executing transactions across multiple blockchains without users interacting directly with bridges. Each treasury uses a self-custodial multisig contract that enforces the organization's approval thresholds. Once the required approvals are collected, NEAR's multiparty computation network signs the transaction.
So who's it for? According to Crypto Briefing, the launch pushes NEAR's use of Intents beyond individual asset swaps and into financial operations for businesses, funds and digital asset treasury companies. It's a different kind of user than the one swapping tokens on a single app.
Pricing and access
NEAR Business was free to start, with no subscription or per-user fees, per the report. The platform covered network fees for the first 1,000 actions each month, and swaps carried a 0.35% fee.
Access isn't open to everyone yet.
The service was initially available through an invitation process, and organizations that wanted in had to request access through the NEAR Business website. NEAR didn't disclose (in the reporting available) how many organizations had been onboarded at launch or when broader access would open up.
Frequently asked questions
What is NEAR Business?
NEAR Business is a confidential multisig treasury platform launched by NEAR Protocol. According to Crypto Briefing, it lets crypto companies and institutions manage payments, assets and capital allocations across more than 35 blockchains from a single dashboard.
How does NEAR Business approve and sign transactions?
Each treasury uses a self-custodial multisig contract that enforces approval thresholds set by the organization. After the required approvals are collected, NEAR's multiparty computation network signs the transaction. The platform runs on NEAR Intents, which executes cross-chain transactions without users interacting directly with bridges.
How much does NEAR Business cost?
NEAR Business was free to start, with no subscription or per-user fees, according to Crypto Briefing. The platform covered network fees for the first 1,000 actions each month, and swaps carried a 0.35% fee.
Can any organization sign up for NEAR Business?
Not at launch. The service was initially available through an invitation process, and interested organizations had to request access through the NEAR Business website, as reported by Crypto Briefing.
