Digital asset infrastructure provider Taurus has deployed a private contract for Stablecoins, which aims to provide non-infectivity and anonymity.
The company revealed on Thursday that the Stablecoin contract built on the Aztec Network on Aztec Network combines zero-knowledge proof with the compliance capabilities of existing Stablecoins. It said the new contract could increase the adoption of stable assets for wages, intra-city payments and other sensitive transfers.
Taurus provides infrastructure for major companies entering the digital asset space, including a global partnership with Deutsche Bank in 2023 and a management solution agreement with State Street in 2024.
Taurus Chief Security Officer JP Aumasson said the new product demonstrates how Stablecoin users can protect privacy without sacrificing compliance, ensuring access to licensors such as issuers and regulators.
Arnaud Schenk, executive director of the Aztek Network board, said that at present, Stablecoins’ “actual adoption” is limited by the visibility and non-dispersibility of public blockchains.
Schenk said Aztek’s Zero Knowledge Layer 2 provides “the privacy of controls defined for users and granular issuers, baked directly in the token”.
New Stablecoin contract launches government oversight amid growing speculation that will drive more Users are heading towards “dark stability”, It is an alternative to anti-censorship.
“People who use Stablecoins for large international transfers may start looking for dark stables who resist censorship,” said CryptoQuant CEO Ki Young Ju.
Taurus contracts may offer many of the privacy features of these so-called dark stabilizers, but there are no potential regulatory risks.
Related: Bank hall is “panic” about the stability of load-bearing stability
Stablecoin market can attract bigger players
The global Stablecoin market has Overshadowed $260 billion, providing a bridge between the traditional finance and the world of digital assets. Tether’s USDT (USDT) and Circle’s USDC (USDC) Considering that more competitors enter the competition, they occupy the share of the lion.
According to Redstone Latest report At least 30 Stablecoin issuers maintained a revolving supply of at least $100 million on tokenized real-world assets.
The death of the Genius Act in the United States is expected to drive steady adoption rates, which recently cleared Major legislative obstacles to the Senate. As Cointelegraph reports, the Law of Genius can open the door Large tech companies like the Cell Platform Issue your own stablecoin.
Elsewhere, the European Commission adopted More tolerant to stabilitynoting that under the crypto resources (MICA) framework in the region, risks associated with issuances outside Europe are manageable.
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Related: BIS says Stablecoins fails, requiring strict restrictions on its role
