Paxos Teams Up with Aleo to Launch Privacy-First Stablecoin USAD

BlockBeats News, February 11th, according to The Block, Paxos Labs has partnered with privacy-focused Layer 1 network Aleo to launch a native privacy-preserving stablecoin USAD, based on Aleo's ZK technology. This move comes amidst growing interest in institutional-grade privacy solutions, as businesses look to take advantage of blockchain assets without compromising transaction details. It is worth noting that Circle also previously chose Aleo to pilot its privacy-enhanced version of the USDC stablecoin, named USDCx.