Privacy Pools, the On-Chain Privacy Solution Backed by Vitalik Buterin, Adds Stablecoin Support

According to a report by Jinse Finance, Privacy Pools, an on-chain privacy solution backed by Ethereum co-founder Vitalik Buterin, is expanding support for stablecoins, paving the way for assets like USDT and USDC to be used similarly to cash. The protocol plans to add support for Tether’s USDT, Circle’s USDC, and Sky’s algorithmic DAI stablecoin. Created by Ameen Soleimani and Zak Cole, Privacy Pools aims to achieve on-chain privacy while maintaining compliance. It utilizes a hybrid network design called “association set providers,” first proposed by Buterin in 2023, to filter out illicit or unwanted funds. Its development company, 0xbow, has raised funding from Bankless, Number Group, Public Works, and several angel investors, including Buterin himself.