What do institutions fear most about cross-chain transactions? Their positions and counterparties are fully exposed on-chain.
PANews reported on November 10 that Matter Labs, the developer of ZKsync, launched Prividium Connect. Banks, asset managers, and financial market infrastructure providers can privately exchange assets across their respective chains without a trusted intermediary. The tool uses zero-knowledge proofs to enforce agreed terms before settlement: transfers between the two parties either complete simultaneously or do not execute at all, while confidential records remain within each party’s own system. Matter Labs says this is the first solution on mainnet to use cryptography to enforce private cross-chain transactions.
The announcement also includes plans to propose a standard deployment of Prividium Connect on public chains, directing interoperability fees into the ZK ecosystem. Development of the fee switch is complete and it is undergoing an audit. The plan is to convert collected fees into ZK through the Fee Flow System already deployed on ZKsync Era, then distribute them as determined by governance.
Two scenarios to watch: First, the list of institutions joining the network is announced and actual cross-chain transaction volumes follow, while the fee switch completes its audit and enters the governance process. Second, the framework is in place but no funds flow, and the sentiment premium driven by the news fades.
Which would you rather see first: the list of institutions, or on-chain transaction volumes?
Image 1: ZKsync launches Prividium Connect, a privacy tool for institutional cross-chain transactions · Key points
Image source: https://www.panewslab.com/zh/articles/01a1c59e-84ae-77f8-9e51-817d519602c3
PANews reported on November 10 that Matter Labs, the developer of ZKsync, launched Prividium Connect. Banks, asset managers, and financial market infrastructure providers can privately exchange assets across their respective chains without a trusted intermediary. The tool uses zero-knowledge proofs to enforce agreed terms before settlement: transfers between the two parties either complete simultaneously or do not execute at all, while confidential records remain within each party’s own system. Matter Labs says this is the first solution on mainnet to use cryptography to enforce private cross-chain transactions.
The announcement also includes plans to propose a standard deployment of Prividium Connect on public chains, directing interoperability fees into the ZK ecosystem. Development of the fee switch is complete and it is undergoing an audit. The plan is to convert collected fees into ZK through the Fee Flow System already deployed on ZKsync Era, then distribute them as determined by governance.
Two scenarios to watch: First, the list of institutions joining the network is announced and actual cross-chain transaction volumes follow, while the fee switch completes its audit and enters the governance process. Second, the framework is in place but no funds flow, and the sentiment premium driven by the news fades.
Which would you rather see first: the list of institutions, or on-chain transaction volumes?
Image 1: ZKsync launches Prividium Connect, a privacy tool for institutional cross-chain transactions · Key points
Image source: https://www.panewslab.com/zh/articles/01a1c59e-84ae-77f8-9e51-817d519602c3
