Prenetics has joined the Web3 space through a new partnership with Humanity Protocol.
The deal will see the integration of the company’s CircleDNA into Humanity Protocol to serve as an Identity Validator for blockchain-based credentials.
Prenetics have also introduced a new Crypto Strategic Reserve with investments in Bitcoin and Solana.
Prenetics Global Limited, a Nasdaq listed healthcare company, has officially joined the crypto bandwagon through a strategic partnership with Humanity Protocol, a Web3 focused identity verification firm.
According to an official , the collaboration will see Prenetics integrate its flagship product “CircleDNA” into Humanity Protocol’s infrastructure as an Identity Validator. This integration aims to support blockchain-based Proof of Personhood credentials, leveraging DNA testing to enhance security and prevent Sybil attacks—a type of fraud where individuals create multiple identities to manipulate systems.
Humanity Protocol Adopts DNA Testing for Identity Verification
This marks the first time Humanity Protocol will incorporate DNA testing to enhance identity verification in Web3. Until now, the company—which recently reached a $1.1 billion valuation following its latest fundraising in January—has relied on biometric technology and zero-knowledge proofs (ZKs) for identity verification.
By shifting to DNA-based authentication, Humanity Protocol can ensure each individual has a unique and verifiable identity, significantly reducing the risk of identity fraud.
Commenting on the partnership, Danny Yeung, CEO and Co-Founder of Prenetics said that through CircleDNA, the company will offer privacy-centric identity solutions that will benefit the entire Web3 economy.
“Through our CircleDNA service, we will provide secure, privacy-focused identity solutions that not only benefits decentralized applications across finance, healthcare, and governance but also paves the way for a strategic framework that permits Prenetics to integrate and capitalize on digital assets,” said Danny Yeung, CEO and Co-Founder of Prenetics.
“Through our CircleDNA service, we will provide secure, privacy-focused identity solutions that not only benefits decentralized applications across finance, healthcare, and governance but also paves the way for a strategic framework that permits Prenetics to integrate and capitalize on digital assets,” said Danny Yeung, CEO and Co-Founder of Prenetics.
Prenetics Strengthens Crypto Presence with Strategic Reserve
Beyond the CircleDNA integration, Prenetics is deepening its involvement in the crypto economy by establishing a Crypto Strategic Reserve. As part of this initiative, the company has added Bitcoin , Solana , and $H tokens to its corporate balance sheet for the first time.
According to the announcement, Prenetics currently holds $1 million in $H tokens, $250,000 in BTC and $250,000 in SOL.
Prenetics plans to reassess its crypto allocations quarterly, exploring further investment opportunities in the industry while refining its digital asset investment strategy. As of December 2024, the company’s cash and short-term asset balance stood at $84.87 million.
While the partnership with Humanity Protocol marks Prenetics’ most direct entry into the crypto space, it is not the company’s first interaction with blockchain technology. Through its subsidiary, Insighta, the firm has already made significant strides in the decentralized science (DeSci) sector.
As per the press release, Insighta is currently using the blockchain to develop an AI-driven early cancer detection, aiming to make advanced healthcare solutions accessible to millions worldwide.
Yeung believes blockchain technology is revolutionizing multiple industries, from identity verification to healthcare innovations. He sees the public ledger as a driving force for groundbreaking advancements in different fields.
“Blockchain is creating unprecedented opportunities for innovation across industries […] By merging the rigor of genomics with digital innovation, we are forging a path toward a future where secure identity verification and groundbreaking healthcare solutions go hand in hand,” Yeung said.
“Blockchain is creating unprecedented opportunities for innovation across industries […] By merging the rigor of genomics with digital innovation, we are forging a path toward a future where secure identity verification and groundbreaking healthcare solutions go hand in hand,” Yeung said.