The Aleo Network Foundation has partnered with Paxos Labs to launch the privacy focused USAD stablecoin. Aleo is a Layer 1 permissionless blockchain that uses zero-knowledge proofs for private, compliant payments. Paxos Labs is part of Paxos, the issuer behind PayPal’s PYUSD and the Global Dollar stablecoin. Aleo is backed by a16z, Softbank and Coinbase Ventures, and is a partner in the Global Dollar Network. One of the biggest challenges with permissionless blockchains is the transparency which is not ideal for business payments. Imagine paying staff using stablecoins – the amounts would be fully visible. At the same time, fully encrypted payments are problematic for compliance purposes. Aleo enables stablecoin owners and senders to selectively share compliance data. “Partnering with Aleo allows us to bring digital dollars into a new era where enterprises can embed money that is private, programmable, and trusted from the ground up,” said Bhau Kotecha, Co-founder at Paxos Labs.