Privacy Pools adds stablecoin support for private Ethereum transfers
Quick Take Privacy Pools, the onchain privacy solution backed by Ethereum co-founder Vitalik Buterin, is adding support for stablecoins, according to an announcement on Wednesday.
Privacy Pools, the onchain privacy solution backed by Ethereum co-founder Vitalik Buterin, is adding support for stablecoins, thereby providing a pathway for using assets like USDT and USDC like cash, according to an announcement on Wednesday.
The protocol plans to add support for Tether’s USDT, Circle’s USDC, and Sky’s algorithmic DAI stablecoin.
Privacy Pools was created by crypto veterans Ameen Soleimani and Zak Cole as a way to enable onchain privacy while remaining compliant. It uses a mixnet design first proposed by Buterin in 2023 called an "Association Set Provider" to filter out illicit or unwanted funds.
Users connect to the protocol using a compatible 0xbow Wallet to deposit ERC-20 tokens. The protocol uses zero-knowledge proofs to enable users to withdraw freshly anonymized assets into new shielded addresses.
0xbow, the startup building the tech, raised funds from Bankless, Number Group, Public Works, and several angels, including Buterin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.
OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.
New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More
