Aleo partners with Paxos Labs to launch stablecoin USAD
Jinse Finance reported that the Aleo Network Foundation has partnered with Paxos Labs to launch the privacy-focused USAD stablecoin. Aleo is a Layer1 permissionless blockchain that utilizes zero-knowledge proofs to enable private and compliant payments. Paxos Labs, a subsidiary of Paxos, is the issuer of PayPal’s PYUSD and the Global Dollar stablecoin. Aleo is supported by a16z, Softbank, and a certain exchange, and is also participating in the Global Dollar Network collaboration.
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