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Aleo and Paxos Labs launch an institutional privacy-protecting USD stablecoin
According to Mars Finance, on October 1st, the Aleo Network Foundation is partnering with Paxos Labs to launch a stablecoin pegged to the USD, aimed at protecting user privacy and attracting the attention of Financial Institutions. Unlike traditional stablecoins such as Tether's USDT and Circle's USDC, Aleo's stablecoin uses encryption for Wallet addresses and transaction amounts to protect them from public view.