Virtual Asset Infrastructure Firm Taurus Launches Private Stablecoin Contract

Heecheol Yang

Summary

Taurus announced that it has deployed a stablecoin contract based on private smart contracts on the Ethereum Layer 2 Aztec Network.
This contract combines zero-knowledge proof technology and compliance features, allowing it to be used for sensitive transfers such as payroll and intra-company payments.
Taurus and Aztec Network emphasized that this private stablecoin has advantages in terms of security and privacy protection over existing stablecoins.

Taurus, a virtual asset (cryptocurrency) infrastructure company working in partnership with Deutsche Bank, has launched a stablecoin contract based on private smart contracts.

According to Cointelegraph on the 26th (local time), Taurus deployed a stablecoin contract on the Ethereum (ETH) Layer 2 blockchain Aztec Network. Taurus explained, “This contract combines zero-knowledge proof technology with the compliance features of existing stablecoins,” adding, “It enables the use of stablecoins for sensitive transfers, such as payroll and intra-company payments.”

JP Aumasson, Chief Security Officer of Taurus, emphasized, “The new contract allows only authorized entities, such as issuers or regulators, to access transaction histories,” and said, “Private stablecoins offer higher security than conventional stablecoins that have excessive transparency.”

Arnaud Schenk, Executive Director of the Board at Aztec Network, commented, “The visibility and immutability of public blockchains have limited the adoption of stablecoins,” and further stated, “Layer 2 zero-knowledge proof technology can protect personal information while also meeting regulatory requirements.”