PayPal’s PYUSD Stablecoin on Solana Introduces ‘Confidential Transfers’ for Enhanced Privacy
PayPal’s PYUSD stablecoin, which was recently deployed on the Solana blockchain, includes a feature called “confidential transfers.”
The feature aims to provide enhanced privacy for users while maintaining transparency for regulatory purposes.
On May 29, PayPal made an official announcement regarding the deployment of its dollar-pegged stablecoin on Solana, after it was previously only available on the Ethereum blockchain.
The introduction of “confidential transfers” allows merchants utilizing PYUSD to offer transactional confidentiality to their customers while still ensuring regulatory compliance.
This means that the transaction amounts can be concealed from public view, providing a level of privacy for users.
Udi Wertheimer, a prominent Bitcoin advocate, said in a post on X that PayPal users would have access to a feature similar to “confidential transactions” before Bitcoin developers implemented it.
“This sounds a lot like “confidential transactions,” a feature Bitcoin devs have been larping about for almost a decade but never built, and you’re telling me PayPal users will have it first? LOL,” he wrote.
ok this is wild
paypal just launched its PYUSD stablecoin on solana (yeah i know. yawn)
but it seems to have a privacy feature they call “Confidential Transfers” that hides the transaction amounts of transactions????
this sounds a lot like “confidential transactions”, a… pic.twitter.com/BMqvWTBoOC
— Udi | BIP-420
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