Taurus has launched a contract dedicated to Stablecoin privacy on the Aztec Network
Digital Asset Infrastructure Provider Taurus has deployed a private contract for Stablecoins designed to offer anonymity and anonymity.
Built on the AZTEC Network, the Taurus Stablecoin contract combines proof zero-knowledge with the features of compliance with existing stablecoins, the company disclosed on Thursday. The new contract may increase the adoption of stable owners for payrolls, intracompany payment and other sensitive transfers, it said.
Taurus provides infrastructure for major companies entering the digital asset space, including a global collaboration with Deutsche Bank in 2023 and a deal with State Street solution management in 2024.
Taurus Chief Security Officer JP Aumasson said the new product shows how StableCoin users can maintain privacy without sacrificing compliance, ensuring access to authorized parties such as those who give and regulators.
Currently, the “practical adoption” of Stablecoins is limited by the visibility and inability of public blockchains, Arnaud Schenk, executive director of the Aztek Network board.
Aztek’s zero-knowledge layer-2 provides “privacy for users and controls specified by issuer baked directly to the token,” Schenk said.
Stablecoin’s new contract launches amid the growing speculation -haka increased government administration will bring more Users toward “dark stablecoins,” which are alternatives resistant to censorship.
“People who use stablecoins for Big International Transfers can start searching for censorship-resistant dark stablecoins instead,” says cryptoquant CEO Ki Young Ju.
The Taurus contract can provide many of the privacy features of so -called dark stablecoins, but there are no potential regulation risks.
Related: The bank lobby is ‘panicking’ about yield-bearing stablecoins
Stablecoin market can attract larger players
The global Stablecoin market is Eclipsed $ 260 billion, which offers a bridge between traditional finances and digital assets. Tether’s USDT (USDT) and USDC of the Circle (USDC) Account for the lion’s component market, although more competitors enter the Fray.
According to Redstone’s Latest report In tokenized real-world assets, at least 30 Stablecoin issues maintain a circulating supply of at least $ 100 million.
Stablecoin adoption is expected to be filed by the passage of the Genius Act in the United States, which has recently been -Clear A major legislative hurdle in the Senate. As Cointelegraph reported, the Genius Act could open the door to Large tech companies like meta platforms to issue their own stablecoins.
Everywhere, the European Commission has adopted A more surprising stance on stablecoinsstating that risks related to exit out of Europe will be managed under regional markets in the Crypto-Assets (MICA) framework.
https://www.youtube.com/watch?v=ziirhv3cbog
Related: Bis said the stablecoins failed as money, calling strict limits to their role
