Bitmine, Sharplink and Joe Lubin back Ethereum R&D nonprofit

Sharplink says the new nonprofit, Ethlabs, “exists to ensure the network is ready to absorb” the demand that institutions will place on it with stablecoins, tokenization and AI.

Former Ethereum Foundation contributors and Ether treasury firms Bitmine and Sharplink have backed a new research and development nonprofit that aims to make Ethereum ready for institutional use.

Sharplink said on Monday that the organization, Ethlabs, was formed to “ready Ethereum for the next phase of institutional adoption,” with the company pitching in with Bitmine, Ethereum co-founder Joe Lubin and other Ethereum contributors on its funding effort.

“As stablecoins, tokenized real-world assets, funds and autonomous AI commerce move on-chain, they are converging on Ethereum as the neutral, credibly permissionless settlement layer for the global economy,” Sharplink said. “Ethlabs exists to ensure the network is ready to absorb that demand at scale.”

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