Sygnum partnership for zero-knowledge proofs with zkSync Era
Sygnum is partnering with Matter Labs and collaborating on zkSync Era for zero-knowledge proof technology. As the first regulated bank in the zkSync Era ecosystem, Sygnum’s aim is to establish cutting-edge use cases that further enhance user privacy and strengthen security.
Sygnum, as a regulated digital asset bank and active crypto community contributor, is committed to building trust in the asset class via bank-grade network security and user data privacy. As part of a partnership to collaborate with zkSync Era, Sygnum is exploring opportunities for development, including running a validator node with zkSync Era and institutional-grade custody and staking support for clients who are active in the zkSync ecosystem.
Sygnum is also collaborating on research and development for Proof-of-Solvency solutions using zero-knowledge (ZK) proofs, which will enable public “proof” that an organisation is fully solvent without needing to provide their balance sheet or revealing confidential client information. This is essential for increasing industry trust and transparency without compromising banking privacy and client confidentiality.
Sygnum collaborates with zkSync Era: Marco Cora, Business Development, Matter Labs, spoke with Sygnum's Walter Strametz, CTO Strategic Initiatives and Aliya Das Gupta, Business Development.
Sygnum, the world’s first digital asset bank, continues its development and community support for Ethereum ecosystem infrastructure and protocols. In an environment where privacy is becoming ever more important, this ecosystem collaboration aims at expanding Sygnum’s capabilities to build sophisticated, privacy-preserving tools for its clients.
As the Ethereum smart-contract platform continues to address the challenges of high gas fees and network congestion, Zero-knowledge has become an increasingly important part of its scalability ecosystem roadmap. Matter Labs are the creators of zkSync Era, a solution engineered to scale Ethereum effectively without compromising security or decentralisation efforts.
“Our long-term mission is to make self-sovereign participation in the digital economy — i.e. maintaining true control over one’s digital assets — affordable for anyone in the world,” says
Alex Gluchowski, Co-Founder and CEO, Matter Labs.
“We're delighted to work with Sygnum to navigate the jungle of regulation in Web3. Each solution or service released by Sygnum, powered by the scalability and security of zkSync Era, can serve as a stepping stone to broader adoption and credibility for growing the financial use cases and mainstream adoption of public blockchains,” commented Marco Cora, Head of Business Development, Matter Labs.
“Zero-knowledge technology represents the next step in the evolution of digital assets. Sygnum is excited to be the first regulated bank in the zkSync Era ecosystem to continue pushing the boundaries of digital assets,” says Luca Burlando, Sygnum’s Head of Ventures and Partnerships.
Learn more about zkSync here and read about the collaboration here.
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