Privacy Wallet and Crypto Card Service Provider Payy Announce Launch of a Privacy-Focused Ethereum Layer 2 Network, Now Directly Integrable with MetaMask. The network defaults to privacy-preserving ERC-20 token transfers without requiring any modifications to existing smart contracts, aiming to enable on-chain financial activities to remain compliant while minimizing external traceability.
Payy states that in the past, privacy often meant complex experiences, fragmented liquidity, or poor compatibility. This network’s underlying architecture allows “privacy to run in the background.” Its system automatically routes user transactions to private ERC-20 liquidity pools, hiding the true flow of funds; when users interact with DeFi protocols, assets are transferred to newly generated addresses, further reducing on-chain linkability. Related private data is stored in an off-chain privacy vault, allowing users to choose different privacy and compliance combinations based on their needs.
The network primarily targets two user groups: first, institutions and FinTech companies that want to bring fund flows on-chain but do not want to expose transaction trails; second, privacy-focused users seeking a simplified experience. Crypto-native users can continue using existing wallets and applications, while traditional financial institutions can access via distribution partners. Payy plans to leverage its current base of approximately 100,000 wallet users and multiple stablecoin participants as initial liquidity.
Payy CEO Sid Gandhi pointed out that privacy is a key barrier to large-scale adoption of blockchain. Protecting transaction information without sacrificing compliance could help push the on-chain adoption of the global payment system, which is valued at trillions of dollars.
As privacy assets like Monero and Zcash show signs of revival in 2025, and as the Ethereum ecosystem continues to advance wallet-level privacy features, Payy’s launch is seen as another signal that privacy infrastructure is returning to the forefront, providing a new practical path for Ethereum Layer 2 privacy applications.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin ETFs See $213M Daily Inflow, Ethereum ETFs Record $83M Outflow on April 24
Gate News message, according to the April 24 update, Bitcoin ETFs recorded a single-day net inflow of 2,733 BTC (approximately $213.15 million), with a 7-day net inflow of 18,232 BTC (approximately $1.42 billion). Ethereum ETFs showed a single-day net outflow of 35,713 ETH (approximately $82.93 mill
GateNews1h ago
Kelp DAO 漏洞救援：Mantle 擬貸 Aave 3 萬 ETH、DeFi 聯盟承諾逾 43,500 ETH
After the Kelp DAO cross-chain bridge was hacked, DeFi United mobilized agreements from protocols including Aave to commit 43,500 ETH (about $101 million) to provide relief for bad debts. Mantle proposed MIP-34, offering to lend up to 30,000 ETH to the Aave DAO and granting 130,000 AAVE voting rights; Stani Kulechov personally injected 5,000 ETH, and Lido and others also contributed. This move is seen as an experiment in “exchanging loans for governance rights” during a crisis, pending a vote.
ChainNewsAbmedia2h ago
Ethereum Developer Proposes EIP-8182 to Add Native Privacy Transfers at Protocol Level
Gate News message, April 24 — Ethereum developer Tom Lehman has published a draft proposal for EIP-8182, aimed at introducing native privacy transfers to Ethereum by implementing shared privacy pools, fixed address system contracts, and zero-knowledge proof verification precompiles at the protocol l
GateNews2h ago
Arthur Hayes: Ethereum Could Exit Top 3 by 2030, AI Altcoins May Replace ETH
Arthur Hayes Predicts Ethereum's Market Decline
Arthur Hayes, co-founder of BitMEX, claimed in a recent interview that Ethereum (ETH) will fall out of the top three cryptocurrencies by market capitalization by 2030. According to Hayes, AI-focused altcoins could replace Ethereum in this
CryptoFrontier3h ago
Lighter Launches Multi-Asset Margin With ETH Collateral
Decentralized perpetuals exchange Lighter has launched Multi-Asset Margin today, enabling traders to post non-USDC assets as collateral for perpetual trading, according to Lighter's documentation. ETH is the first supported collateral asset. Users deposit a supported asset into their margin
CryptoFrontier3h ago
Ethereum Foundation Sells 10,000 ETH to BitMine via OTC at $2,387 Average Price
Gate News message, April 24 — The Ethereum Foundation sold 10,000 ETH through an over-the-counter (OTC) agreement with BitMine at an average price of $2,387 per token, totaling approximately $23.87 million. The transaction was completed on April 24, 2026, and will be executed on-chain from the EF's
GateNews3h ago
