Aleo Partners with Paxos to Launch Privacy-Enhanced USAD Stablecoin
Aleo Network and Paxos Labs Launch USAD Stablecoin
- The Aleo Network Foundation has teamed up with Paxos Labs to introduce a stablecoin named USAD, pegged to the US dollar.
- USAD features end-to-end encryption and privacy, making it unique as the first stablecoin on a layer-1 blockchain with these features.
- Paxos Labs will handle issuance and reserve management for USAD.
- Aleo's blockchain technology encrypts transaction details such as wallet IDs, amounts transferred, and timestamps, ensuring user privacy.
- The stablecoin is described as "programmable dollars" backed by regulated reserves.
Stablecoin Sector Expansion in 2025
- 2025 marks significant growth for stablecoins, dubbed the "stablecoin supercycle."
- World Liberty Financial plans to launch USD1 stablecoin on the Aptos Network by October 6.
- Phantom has launched CASH, a US dollar-pegged stablecoin, on the Solana blockchain.
- Brex has announced native stablecoin payments integration within its platform.
- Visa is piloting the use of stablecoins for cross-border remittances via Visa Direct.