Sygnum partnership for zero-knowledge proofs with zkSync Era

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.

Disclaimer: The information in this publication pertaining to Sygnum Bank AG (“Sygnum”) is for general information purposes only, as per date of publication, and should not be considered exhaustive. This publication does not consider the financial situation of any natural or legal person, nor does it provide any tax, legal or investment advice. This publication does not constitute any advice or recommendation, an offer or invitation by or on behalf of Sygnum to purchase or sell any assets. No elements of precontractual or contractual relationship are intended. While the information is believed to be from accurate and reliable sources, Sygnum makes no representation or warranties, expressed or implied, as to the accuracy of the information. Sygnum expressly disclaims any and all liability that may be based on such information, omissions, or errors thereof. Any statements contained in this publication attributed to a third party represent Sygnum‘s interpretation of the data, information and/or opinions provided by that third party either publicly or through a subscription service, and such use and interpretation have not been reviewed by the third party. Sygnum reserves the right to amend or replace the information, in part or entirely, at any time, and without any obligation to notify the recipient of such amendment / replacement or to provide the recipient with access to the information. Simultaneously, there is no obligation of Sygnum to inform recipients of information, if before provided information later becomes outdated, inaccurate or obsolete, unless otherwise provided by applicable law. The information provided is not intended for use by or distributed to any individual or legal entity in any jurisdiction or country where such distribution, publication or use would be contrary to the law or regulatory provisions or in which Sygnum does not hold the necessary registration, approval authorisation or license. Except as otherwise provided by Sygnum, it is not allowed to modify, copy, distribute or reproduce, display, license, or otherwise use any content for commercial purposes.

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