Vitalik-backed privacy protocol Privacy Pools adds support for stablecoins

PANews reported on June 26 that according to The Block, the privacy protocol Privacy Pools, supported by Ethereum co-founder Vitalik Buterin, announced the addition of stablecoin support. The protocol will allow users to anonymously transfer stablecoins such as USDT, USDC and DAI through zero-knowledge proof technology, achieving cash-like privacy transactions.

Privacy Pools uses the "association set provider" coin mixing scheme proposed by Buterin in 2023, which can filter out illegal funds while protecting on-chain privacy. Users need to deposit ERC-20 tokens through the 0xbow wallet, which can then be withdrawn to a new anonymous address. 0xbow, a startup that developed this technology, has previously received investment from institutions such as Bankless and Buterin himself.