ZKsync Developer Launches Institutional Cross-Chain Private Transaction Tool, Plans to Channel Interoperability Fees Into ZK Economy

November 10: According to the official blog, ZKsync developer Matter Labs has launched Prividium Connect, enabling banks, asset managers and financial market infrastructures to conduct private asset exchanges across the blockchains they each operate without a trusted intermediary. The tool uses zero-knowledge proofs to enforce agreed terms before transactions complete, ensuring that both parties' transfers either complete simultaneously or neither is executed, while each institution's confidential records remain within its own systems. Matter Labs says this is the first solution live on mainnet that cryptographically enforces cross-chain private transactions.

In addition, Matter Labs proposes a standard deployment of Prividium Connect on public blockchains to channel interoperability fees into the ZK economy. The relevant fee switch has been developed and is under audit, with plans to use the Fee Flow System already deployed on ZKsync Era to convert the fees collected into ZK and distribute them according to governance decisions.