NEAR Protocol has launched NEAR Business, an invite-only platform designed for corporate treasury management. The service allows companies to handle payroll, vendor payments, and asset swaps across more than 35 blockchains while maintaining transaction privacy.
According to Harshit Tiwari, vice president of growth at NEAR, the platform has already attracted several million dollars in assets. The user base includes early-stage startups and layer 1 foundations. NEAR Business does not charge subscription fees, instead generating revenue from swap fees executed via the NEAR Intents infrastructure.
The platform utilizes a self-custodial multisignature Treasury Contract, with transactions authorized through a multiparty computation network. While financial data remains private, governance roles and approval decisions are publicly verifiable on-chain. The system also supports selective disclosure for auditors and regulators.
The launch follows an October 1 exploit of the NEAR Intents infrastructure, which resulted in the loss of approximately $3.8 million. The funds were subsequently returned. In response, the protocol has enhanced its deposit security and expanded its AI-powered threat detection system, SHIELD, to include real-time anomaly monitoring.
