ZKsync Developer Launches Institutional Cross-Chain Tool, Plans to Channel Interoperability Fees to ZK

On November 10 that, according to The Defiant, ZKsync developer Matter Labs has launched Prividium Connect, an institutional cross-chain tool that allows institutions to privately exchange assets across different blockchains, initially supporting Hyperledger Besu and Prividium Ledger.

Matter Labs has also proposed routing the interoperability fees generated from the public deployment of this tool into the existing Fee Flow system, linked to the ZK token. The activation of the fee switch, system integration, and fee rate parameters still require governance approval.

The tool employs zero-knowledge proofs to verify transaction conditions, ensuring that asset transfers for both swapping parties are either completed simultaneously or not at all; final transaction confirmation remains dependent on the chosen settlement layer.