Payy Secures $6 Million in Seed Funding for Zero-Knowledge Stablecoin Payments

Payy, a stablecoin startup based in New York, has secured $6 million in seed funding to develop a privacy-focused payments network using zero-knowledge proofs. The company's goal is to create a platform that allows for private USDC transactions without sacrificing transparency or regulatory compliance.

The Payy Network will be built on top of an Ethereum Layer 2 rollup, utilizing zero-knowledge protocols to shield transaction details from public view. This approach aims to address the industry-wide concern that public blockchain transparency is a significant barrier to enterprise adoption of stablecoins.