Crypto

Polygon launches private stablecoin payment feature targeting institutions

Ethereum layer-2 network Polygon has launched a private stablecoin payment feature aimed at attracting corporate and institutional on-chain payments, Cointelegraph reported on Monday. The feature lets users process transactions through a shielded pool verified with zero-knowledge proofs, keeping transaction details hidden from outside view. Built on the Hinkal privacy protocol, it hides sender, recipient and amount while enabling regulatory compliance through KYT screening and audit files.

Crypto

U.S. major banking groups oppose compromise on stablecoin bill

Major U.S. banking groups opposed a compromise provision in a crypto market structure bill on stablecoin returns, The Block reported on Sunday. The American Bankers Association and four other groups said the compromise by Senators Angela Alsobrooks and Thom Tillis falls short of the goal of banning yields and interest on stablecoins. The proposal would bar payments for simply holding stablecoins but allow activity- and transaction-linked rewards.