Taurus, Swiss Crypto Monitoring Technology Company This counts Deutsche Bank Among its customers, zero-knowledge proof is being launched (ZKP) STABLECOIN’s privacy layer starts with Circle’s USDC.
The way Taurus’ Zero Knowledge Carapace is used to share detailed information about private data using the secrets of mathematical proofs, based on the privacy-centric Aztec network. It continues to work on the ZKP privacy enhancement aspect of security tokens for banks and financial institutions released by Taurus earlier this year.
Unlike daily stable trading, ZKP application Technology means that balances and transfers are encrypted and can only be read by authorized parties such as issuers and regulators. This leaves unauthorized parties unable to monitor wallets, reverse engineering investment strategies or physically target high-value users, according to a press release on Thursday.
Stablecoins are one of the hottest regions in cryptocurrencies right now. Landmark bills that establish legal frameworks for issuance and supervision Recently passed By the U.S. Senate. Meanwhile, Stablecoin supply has grown by $250 billion, up 1,200% since 2020.
Taurus said the ZKP technology is open source and brings on-chain privacy to cash guarantees and security of digital transactions.
“We demonstrate that the privacy and security of Stablecoin users can be protected while retaining the characteristics of industry-standard Stablecoins,” said Jean-Philippe Aumasson, chief security officer at Taurus. “This addresses the concerns we have heard repeatedly that these banks are listening to issuers, central banks and regulators.”
Read more: Crypto Custodian Taurus expands its footprint to Türkiye through BankPozitif collaboration
