Secretive Stablecoin for Elites – Will They Even Use It? 💸

by

Finance

What to know:

  • Paxos Labs and the Aleo Network Foundation have unveiled a new stablecoin, USAD, which is as secretive as a spy in a library. 📚
  • The USAD token is built on Aleo’s zero-knowledge blockchain, ensuring your transactions are as private as a politician’s tax returns. 🕵️♂️
  • The project has received backing from major investors like a16z, Coinbase Ventures, and SoftBank – because nothing says “trust” like a bunch of tech billionaires. 💸

Paxos Labs and the Aleo Network Foundation are working to launch a U.S. dollar-pegged stablecoin that aims to preserve user privacy, and appeal to financial institutions, the companies said. *Sarcasm aside, it’s a big deal.* 🤡

Unveiled on Wednesday, the USAD token was built on Aleo’s zero-knowledge (ZK) layer 1 blockchain and issued through Paxos Labs, a regulated infrastructure provider that was incubated under Paxos, the firm behind popular stablecoins such as 🤷♂️ and the Global Dollar (USDG). *Ah, the thrill of innovation.*

Stablecoins are a fast-growing class of cryptocurrencies that are increasingly considered as a cheaper, faster alternative for moving money globally. They are tokens with prices tied to fiat money like the U.S. dollar, and use blockchains to settle transactions. Interest in stablecoins has accelerated with U.S. President Donald Trump signing the GENIUS Act into law earlier this year, enacting federal standards for stablecoin issuers. *Because nothing says “progress” like a law named after a former president.* 🇺🇸

Unlike conventional stablecoins such as Tether’s USDT and Circle’s USDC, Aleo’s stablecoin encrypts wallet addresses and transaction amounts, shielding them from public view. *Because who needs transparency when you can have drama?* 🎭

That design could appeal to financial institutions wary of exposing sensitive transactions data on-chain. *Or just those who enjoy a good mystery.* 🕵️♀️

“Stablecoins have proven to be one of the most powerful innovations in financial markets, and we are only scratching the surface,” said Bhau Kotecha of Paxos Labs in a statement. USAD aims to “bring digital dollars into a new era where enterprises can embed money that is private, programmable and trusted from the ground up,” he added. *Or as I call it, “the future of finance, but with more secrets.”* 🤫

The new token fits into The Aleo Network Foundation’s focus of developing cryptographic tools that allow for programmable transfers without revealing counterparties. The project drew venture capital backing from a16z, Coinbase Ventures and SoftBank among others. *Because nothing says “innovation” like a mix of tech and money.* 💰

“Privacy is the missing link in blockchain adoption at scale, and with USAD we are proving it can exist in a programmable stablecoin,” said Leena Im, chief operating officer at The Aleo Network Foundation. “By pairing Aleo’s technology with Paxos Labs’ issuance stack, we are taking a joint, front-door approach with enterprises to show that digital dollars can be both trusted and transparent to oversight while protecting user confidentiality.” *Or as the rest of us call it, “a fancy way of saying ‘we’re hiding everything.’”* 🧙♂️

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2025-10-01 15:49