Founded in late 2018 by Paul Allen and operational until mid-2023, Transparent sought to create more efficient and accurate payments through advances in blockchain technology. Its innovative solution, Xand, enabled business users to tokenize deposits held in any state or federal bank for real-time payments and settlement while staying within current regulations. The solution included novel cryptographic proofs for establishing confidentiality. Based in Seattle, the company raised $25M from Cercano (formerly Vulcan Capital), Pantera Capital, Block (formerly Square), and several other investors. Transparent assembled an expert team in cryptography, financial systems, software engineering, and regulation. Xand is available under open source licenses here: https://gitlab.com/TransparentIncDevelopment.