Taurus, the Swiss Crypto Protection Technology Company, which counts Deutsche Bank among its customers, rolls a zero-knowledge proof (ZKP) Privacy layers for stableecoins, starting with Circle’s USDC.
Taurus’s zero-knowledge carapace to stableecoins, a way to secretly share details of private data using mathematical evidence, was built on the privacy-centric Aztec network. It continues to work at the ZKP private life improvements for security tokens aimed at banks and financial institutions released by Taurus earlier this year.
Contrary to everyday stablecoin transactions, the use of ZKP Tech means that balances and transfers are encrypted and read only by authorized parties as issuers and regulators. This prevents unauthorized parties from monitoring wallets, reverse engineering of investment strategies or physically targeting high -value users, according to a press release on Thursday.
Stablecoins are one of the hottest areas in crypto right now. A landmark -law proposal that creates a legal framework for issuing and supervision of stablecoins was recently adopted by the US Senate. Meanwhile, the stableecoin supply has risen past $ 250 billion, a 1200% growth since 2020.
The ZKP technology, which is open source, brings privacy on both cash legs and the safety leg of digital transactions, Taurus said.
“We showed that it is possible to protect the privacy and security of stablecoin users while retaining the features of industrial standard stablecoins,” said Jean-Philippe Aumasson, Chief Security Officer in Taurus in a statement. “This relates to concerns that we have repeatedly heard from banks that look at issuing stablecoins, central banks and regulators.”
Read more: Crypto Custodian Taurus expands the footprint to Turkey through Bankpozitif -collaboration
