Payy Network: A Compliant-Privacy Approach to On-Chain Consumer Banking

Payy Network is an on-chain consumer banking platform that offers a range of features, including stablecoins, a privacy-preserving blockchain, global fiat ramps, payment cards, and cross-chain DeFi. The platform's compliant-privacy approach via UTXO lineage allows for meaningful privacy for normal payments while keeping the design space open for adaptation to changing technology and regulation.

The Payy Network is built on a bespoke single-sequencer validium rollup on Polygon, with Ethereum support coming soon. The network aggregates UTXO transaction proofs and hashes submitted by the Payy Wallet before posting them to the base layer. This approach ensures that only state hashes and ZK proofs leave the user's device, keeping actual transaction data private.

Payy also offers a non-custodial wallet that allows users to deposit and withdraw funds, send and receive payments, and hold USDC as savings or spend through the Payy Card. The wallet is available for download on mobile devices and offers a range of features, including auto-configured setup, built-in privacy layers, and native send and receive capabilities.