PLabs Proposes Privacy Stablecoin on Ethereum Backed 1:1 by USDC Reserves
- —USDC reserves held 1:1, with private pUSDC issued under the pERC20 standard
- —Issuance and circulation are separated, with a smart contract enforcing reserve backing
- —The design builds on Zcash's Orchard note model
- —A compliance administrator can freeze assets but cannot move reserves
Why it matters: If implemented, privacy stablecoins could face regulatory demands for data disclosure.
Source: TokenPost