Track market-moving stories before they get noisy

The control plane for bank digital-asset operations is generally available at launch. Its revenue goes to Matter Labs, not ZKsync tokenholders, CEO Alex Gluchowski told The Defiant.

Infrastructure

The control plane for bank digital-asset operations is generally available at launch. Its revenue goes to Matter Labs, not ZKsync tokenholders, CEO Alex Gluchowski told The Defiant.

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Ethereum co-founder Vitalik Buterin has declared the zkEVM “battle for speed” to be “definitively won” and says the top priority should now “shift fully to security.” In an October 15 post on X, he congratulated ZKsync’s Airbender team on a milestone that redefines the zero-knowledge race: real-time Ethereum proving on a single graphics card.

The statement reads as more than praise. It moves the finish line for every zkEVM — away from faster benchmarks and toward proofs that are themselves provably correct.

What Airbender Prime Actually Proved ZKsync unveiled Airbender Prime on October 13, calling it the first Ethereum prover, to its knowledge, to demonstrate real-time proving on a single GPU. Running on one NVIDIA RTX PRO 6000 Blackwell card, the system generated proofs for a consecutive batch of 7,200 Ethereum mainnet blocks; 99% of those proofs finished in under 10 seconds, and every block completed within 12 seconds including witness preparation. Competing provers have required large GPU clusters to reach comparable timings, so a single card changes who can realistically run a prover.

The prover is built on the open RISC-V instruction set and uses hash-based STARK technology, which ZKsync positions as resistant to quantum attack. It also ships with a standalone verifier, so results can be checked without trusting the team’s numbers.

The Three-Part Security Checklist Buterin spelled out what “formally verifying” now means: proving the arithmetization is equivalent to the Ethereum specification, setting a hard maximum bound on prover cost relative to the gas in a block, and verifying the security of the proof system itself.

The distinction matters because a benchmark can be gamed or measured loosely, while the Ethereum spec leaves no slack. A prover that is fast on a friendly workload still has to be shown to behave exactly like Ethereum’s rules on every input. That is the same reason zero-knowledge proofs are treated as a trust fix only when the proof system itself is sound.

Why Speed Was the Easier Problem Optimizing proof throughput is an engineering problem with clear, comparable numbers. Matching a mathematical proof to the Ethereum specification is slower, harder work that produces no headline benchmark. Quantum-resistance claims carry the same burden: saying a hash-based proof system is post-quantum ready is not the same as independently verifying its cryptographic assumptions hold.

ZKsync’s own recent trajectory makes the point. Before Airbender Prime, the team spent months hardening the security of its older EraVM, work that matters precisely because raw proving speed is no longer the bottleneck.

What Happens Next The next observable milestone is not a faster benchmark but formal-verification progress and independent scrutiny of the prover’s security. If the field treats Buterin’s checklist as the new bar, the center of gravity moves from proving speed to provable correctness — a slower race with a much higher bar.

AUTHOR

Jide Idowu is a skilled freelance writer with expertise in blockchain technology, cryptocurrency, and digital finance. Known for his ability to break down complex topics into clear, engaging content, Jide crafts articles, blog posts, and analyses that resonate with both beginners and seasoned professionals. His work spans a wide range of subjects, from emerging crypto trends to in-depth explorations of blockchain innovations. With a keen eye for detail and a passion for educating readers, Jide is a reliable voice in the rapidly evolving world of digital assets.

ZKsync’s ZK token rose 6.2% after Ethereum co-founder Vitalik Buterin publicly praised Airbender Prime, the project’s new Ethereum prover.

What Airbender Prime actually does
ZKsync unveiled Airbender Prime on October 13, 2026. The pitch is real-time Ethereum proving without a rack of specialized hardware.

A prover is the machine that produces cryptographic receipts showing that a batch of transactions was processed correctly. Anyone can check those receipts quickly without redoing the original work.

In ZKsync’s test run, Airbender Prime proved 99% of 7,200 consecutive Ethereum mainnet blocks in under 10 seconds each. Every single block in that stretch was proven in under 12 seconds.

The hardware behind those numbers was one NVIDIA RTX PRO 6000 Blackwell GPU.

ZKsync also leads the ETHproofs.org public leaderboard on average proving time, GPU efficiency, and cost.

Under the hood, Airbender Prime is built on hash-based STARKs, a proof system chosen with post-quantum security in mind. ZKsync plans to implement Keccak-256 for Layer 1 proofs. The system also supports multi-GPU configurations, so one card is the floor rather than the ceiling.

Buterin’s compliment came with homework
Buterin weighed in on October 15, 2026, two days after the launch. He congratulated ZKsync and said the speed race for zkEVMs is “definitively won.”

Then came the pivot. Buterin argued that attention should now shift away from how fast zkEVMs are and toward how secure they are. He called for formal verification to make sure provers align with Ethereum’s specifications. He also advocated for hard limits on prover costs relative to gas prices.

The ZK token’s 6.2% gain coincided with the announcement and Buterin’s comments.

Why accessible hardware is the real headline
ZKsync frames its work on efficient, verifiable computation as part of a broader Ethereum goal: lowering the hardware barriers to verification. The project has also pointed to finance and other industries as places where cheaper independent verification could matter.

What this means for ZK holders and the zkEVM field
There are concrete items worth tracking. These include the planned Keccak-256 implementation for Layer 1 proofs, how multi-GPU setups perform in practice, and how the post-quantum design holds up under outside scrutiny.

The biggest signal may be how ZKsync responds to Buterin’s call for formal verification. Matching Ethereum’s specifications with mathematical proof is slower, harder work than shaving seconds off a benchmark.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

Vitalik Says Ethereum's ZK Speed Race Is Won. What It Means for ETH

Summary: Activate optimistic governance for ZIPs by deploying the council, veto, and supermajority contracts created by Scopelift, and set parameters outlined in the Specification section.

Field
Details

Title
Activate Optimistic Governance for ZIPs

Proposal Type
ZIP

One Sentence Summary
This ZIP activates Optimistic Governance for ZIPs which allows Security Council members to propose protocol upgrades and for the Token Assembly to veto any ZIP prior to execution.

Proposal Author
ZKsync Association

Proposal Sponsor
[TBC]

Date Submitted
[TBC]

Version
1

Summary of Action
Activate optimistic governance for ZIPs by deploying the council, veto, and supermajority contracts created by Scopelift, and set parameters outlined in the Specification section.

Abstract
This proposal activates Optimistic Governance for ZIPs. Security Council members will propose protocol upgrades and the Token Assembly will have the opportunity to veto any ZIP before it can proceed to execution. This removes the requirement for the Token Assembly to affirmatively approve every ZIP and focus voting on Token Program Proposals and Governance Advisory Proposals, while preserving its ability to veto a proposal.

Motivation
ZIPs are technical proposals that can upgrade the ZKsync protocol, its core contracts, and the governance system. The Security Council currently has responsibility for reviewing and approving protocol upgrades before they are executed. Allowing Security Council members to propose ZIPs places responsibility for driving upgrades with the governance body best positioned to assess them.

Under the current process, every ZIP must receive at least 630 million ZK in affirmative votes and a simple majority of votes cast. This means a proposal can fail because it does not reach quorum, even where there is no material opposition. It also requires the Token Assembly to approve technical changes before the Security Council completes its review.

Optimistic Governance shifts the Token Assembly’s role from approving every ZIP to having the ability to veto any ZIP, as well as increasing their focus on token programs, mechanics, and governance advisory. Once adopted, optimistic governace means protocol upgrade proposals can proceed without an affirmative Token Assembly vote, but 630 million ZK can stop it. A veto can only be overridden if at least 1.26 billion ZK votes For and there are more For votes than Against votes. This allows technical experts to drive protocol upgrades while keeping the Token Assembly as a check on whether they proceed.

This ZIP only changes the Protocol Upgrade path. The Token Governor (TPPs) and GovOps Governor (GAPs) are unchanged.

Specification
This proposal deploys a council token, a Council Governor, a Veto Governor, a Supermajority Governor, and a dedicated supermajority timelock on ZKsync Era. It reuses the existing Protocol Timelock so that successful proposals continue to reach the existing ProtocolUpgradeHandler on Ethereum.

Changes Proposed
1. Security Council proposal process
Each of the eight Security Council member entities will receive one non-transferable and non-delegable seat through CouncilERC20. Each seat will be held by that member entity’s SAFE multisig on ZKsync Era.

A seated member of the Security Council may submit a proposal through BasicCouncilGovernor. Any Security Council member entity can submit a protocol upgrade onchain. This submission equates to that entity sponsoring the ZIP. It is expected that the sponsor of the ZIP then casts a vote ‘FOR’ the proposal. One Security Council member entity voting FOR is sufficient to forward the proposal to the Token Assembly veto stage. The Security Council voting delay will be one day, enabling proposals to be cancelled and resubmitted if there is an error in the initial submission. The council voting period will be a maximum of three days. A one-seat super-quorum allows a proposal to advance as soon as the first valid FOR vote is cast.

The ZKsync deployment will use council vote-counting logic under which a valid FOR vote from one seat satisfies sponsorship regardless of Against votes. This preserves the intended one-member sponsorship model and prevents the council stage from becoming a separate majority-approval gate.

A successful council proposal is forwarded to the Veto Governor. It cannot be queued directly for execution through the Council Governor.

Council Members:

Matter Labs: 0xe38dc029623f0af56BdC46E5318610E257d6b760
Nethermind: 0x870Ec9631E28ee6C8b304e238E9b6890a99ab8aA
Open Zeppelin: 0x305798C076B64Be35Aa6367C6632b79e29D0113A
Spearbit: 0x356cF4Ac9fA86F0a9dDdc62e48082FE5Cd14bE7b
Chainlight: 0x3043bF9c9A512d20Dda2c2b2C3D69AF6f7Fcd5B1
Cyfrin: 0x9BC8d216d63b38c390e465D664FEb63B67659c13
Dedaub: 0xdbc2E250cBA867D6619Bed342Ca3Eca7b71e8b82
Peckshield: 0x46fc9a8A72456c84F42c5c9e5df46984c0078B15

2. Token Assembly veto process
Every proposal forwarded by the Council Governor will enter a Token Assembly veto process through BasicCouncilVetoGovernor. Delegated ZK voting power may cast veto votes during the configured veto period.

A proposal succeeds by default unless veto votes reach 630 million ZK. If the threshold is reached, the proposal is defeated unless the Token Assembly subsequently approves an override through the process described below.

The veto threshold will be set at a fixed threshold of 630 million ZK.

The veto vote will remain open for seven days. Once the veto votes reach 315 million ZK—50% of the veto threshold—the voting period will be extended by two days.

3. Token Assembly Supermajority Vote
A veto may be overridden by a Token Assembly supermajority:

at least 1.26 billion ZK voting For, equal to twice the 630 million ZK veto threshold; and
more For votes than Against votes.

The Supermajority Governor [ZKsync Supermajority Governor] will use the existing ZK token and the same fractional-counting model as the current Protocol Governor. It will have a proposal threshold of 21 million ZK, a one-day voting delay, a seven-day voting period, and a three-day late-quorum extension.

Successful supermajority proposals will execute through a dedicated self-administered TimelockController with a one-day minimum delay. That timelock will hold the Veto Governor’s vetoOverrideRole. No externally owned account, Security Council Safe, Foundation Safe, or general governance administrator will hold the supermajority role.

The supermajority vote must execute within 14 days after the veto deadline. This window accommodates the override vote, possible late-quorum extension, and supermajority-timelock delay.

Under the proposed implementation, the supermajority may apply to any proposal in the Defeated state, including a proposal stopped through the Foundation’s safety veto. This prevents the Foundation from becoming a unilateral denial-of-service point, but means its veto acts as a delay rather than an absolute stop when at least 1.26 billion ZK supports a proposal proceeding.

Following a successful supermajority vote, anyone may queue the proposal on the Veto Governor and, after the applicable timelock conditions are satisfied, execute it through the Council Governor. The existing L1 approval process still applies.

4. Foundation safety veto
The ZKsync Foundation will retain veto power in the Veto Governor’s vetoGuardian role via its L2 multisig, 0xF197677d63BF6E2841F5108b8dFd2FD6eCEff74B.

The Foundation may stop a proposal while it is Pending or Active by calling vetoByGuardian() on ZKsync Era. The Foundation cannot use this role to originate, affirmatively approve, queue, or execute a proposal.

A Foundation-vetoed proposal may be restored through the 1.26 billion ZK Token Assembly override described above.

5. Standard ZIP process
The standard process will be:

One Security Council member submits a ZIP through the Council Governor.
The proposing Security Council member, or any other council member, casts one FOR vote to advance the proposal to the Token Assembly veto stage.
The proposal enters the Token Assembly veto process.
The Foundation may exercise its safety veto while the proposal is Pending or Active.
If no veto occurs, the proposal succeeds at the end of the veto period.
If a veto occurs, the proposal proceeds only if the Token Assembly approves an override with at least 1.26 billion ZK voting For and more For votes than Against votes.
The Veto Governor queues and executes the proposal through the existing Protocol Timelock.
The Protocol Timelock sends the L2-to-L1 message to the ProtocolUpgradeHandler.
The upgrade proceeds through the existing L1 approval, delay, and execution stages.

Every standard ZIP is subject to the Token Assembly veto process. Only a higher-threshold Token Assembly vote may reverse a veto on L2.

6. Council Governor parameters

Parameter
Initial Value

Name
ZKsync Protocol Upgrade Council

Council Veto Governor
Deployed Veto Governor

Governor admin
0xf41eca3047b37dc7d88849de4a4dc07937ad6bc4

Voting delay
86,400 seconds (1 day)

Voting period
259,200 seconds (3 days)

Proposal threshold
1e18 (one seat)

Quorum fraction
12% (one of eight seats)

Super-quorum fraction
12% (one of eight seats)

Vote-success rule
One FOR vote is enough

7. Veto Governor parameters

Parameter
Initial Value

Name
ZKsync Protocol Upgrade Veto Governor

Token
ZK at 0x5A7d6b2F92C77FAD6CCaBd7EE0624E64907Eaf3E

Voting delay
86,400 seconds (1 day)

Voting period
604,800 seconds (7 days)

Proposal threshold
0 (propose() is restricted to the Council Governor)

Veto Guardian
0xF197677d63BF6E2841F5108b8dFd2FD6eCEff74B

Veto override duration
1,209,600 seconds (14 days)

Voting-period extension
172,800 seconds (2 days)

Extension threshold
50% of veto threshold (315 million ZK)

Veto threshold
630 million ZK

Protocol Timelock
0x085b8B6407f150D62adB1EF926F7f304600ec714

Governor admin
0xf41eca3047b37dc7d88849de4a4dc07937ad6bc4

Council
Deployed Council Governor

Veto override role
Deployed Override timelock

8. Council token parameters

Parameter
Initial Value

Name
ZKsync Protocol Upgrade Council Seat

Symbol
ZKPUC

Admin
0xf41eca3047b37dc7d88849de4a4dc07937ad6bc4

Maximum tokens per member
1e18

Initial members
Matter Labs: 0xe38dc029623f0af56BdC46E5318610E257d6b760; Nethermind: 0x870Ec9631E28ee6C8b304e238E9b6890a99ab8aA; Open Zeppelin: 0x305798C076B64Be35Aa6367C6632b79e29D0113A; Spearbit: 0x356cF4Ac9fA86F0a9dDdc62e48082FE5Cd14bE7b; Chainlight: 0x3043bF9c9A512d20Dda2c2b2C3D69AF6f7Fcd5B1; Cyfrin: 0x9BC8d216d63b38c390e465D664FEb63B67659c13; Dedaub: 0xdbc2E250cBA867D6619Bed342Ca3Eca7b71e8b82; Peckshield: 0x46fc9a8A72456c84F42c5c9e5df46984c0078B15

Tokens per initial member
1e18

Transferability
Non-transferable and non-delegable

9. Supermajority Governor parameters

Parameter
Initial Value

Name
ZKsync Supermajority Governor

Token
ZK at 0x5A7d6b2F92C77FAD6CCaBd7EE0624E64907Eaf3E

Proposal threshold
21 million ZK

Fixed For-vote quorum
1.26 billion ZK

Success condition
At least 1.26 billion ZK FOR and more FOR than AGAINST

Voting delay
86,400 seconds (1 day)

Voting period
604,800 seconds (7 days)

Late-quorum extension
259,200 seconds (3 days)

Override timelock minimum delay
86,400 seconds (1 day)

Override timelock proposer and canceller
Veto Override Governor

Override timelock executor
Open (address(0))

Override timelock administration
Self-administered

10. Existing Protocol Timelock migration
This design requires no changes to the existing ProtocolUpgradeHandler and continues to use the existing Protocol Timelock at 0x085b8B6407f150D62adB1EF926F7f304600ec714.

The migration will:

grant PROPOSER_ROLE, EXECUTOR_ROLE, and CANCELLER_ROLE on the Protocol Timelock to the new Veto Governor; and
revoke those roles from the current ZkProtocolGovernor at 0x76705327e682f2d96943280d99464ab61219e34f.

The Veto Governor requires EXECUTOR_ROLE because it calls executeBatch() itself. The Protocol Timelock is self-administered and currently has a minimum delay of zero. This ZIP does not change that delay.

11. Administration and council membership
The governorAdmin roles for the Council Governor and Veto Governor, as well as the CouncilERC20 admin role, will be assigned to the L2 alias of the ProtocolUpgradeHandler, 0xf41eca3047b37dc7d88849de4a4dc07937ad6bc4.

As a result, parameter changes and council seat changes must pass through the full ZIP process, including the L1 approval and delay stages, before the ProtocolUpgradeHandler sends the corresponding L1-to-L2 call.

The L1 Security Council membership and the L2 council-seat list are separate. A change to one does not automatically update the other. Any membership change must update both systems where applicable.

12. Prerequisite Guardian-dissolution ZIP
This proposal assumes that a separate ZIP has already:

assigned the ZKsync Foundation Safe to the ProtocolUpgradeHandler Guardian role;
deployed and activated an Emergency Upgrade Board that is composed of the Security Council plus Foundation, requiring both bodies; and
retired the prior three-body Emergency Upgrade Board.

That prerequisite ZIP must execute before this optimistic-governance migration. Any corresponding changes to Guardian roles in the Token Governor and GovOps Governor must be handled separately through the applicable TPP and GAP processes.

13. Scope
This proposal applies only to the Protocol Upgrade Governor and its timelock. It does not change:

the Token Governor or the affirmative Token Assembly vote required for TPPs;
the GovOps Governor or the affirmative Token Assembly vote required for GAPs;
the L1 ProtocolUpgradeHandler approval thresholds established by the prerequisite ZIP;
the Security Council’s existing freeze powers; or
the Emergency Upgrade Board established by the prerequisite ZIP.

Execution Impact
Security Council
Each Security Council member entity will receive one seat held through its Safe on ZKsync Era. Any one member may sponsor a proposal and forward it to the Token Assembly veto stage. The Security Council will continue to act collectively during the L1 approval stage.

L2 seat custody is operationally separate from the existing L1 Security Council membership. The signer sets and membership records must be kept aligned.

Token Assembly
The Token Assembly will no longer need to reach affirmative quorum for every ZIP. Instead, every standard ZIP will enter a public veto period.

Delegates may stop a proposal with 630 million ZK in veto votes. A disputed veto may be reversed only through a separate Token Assembly vote with at least 1.26 billion ZK voting For and more For votes than Against votes.

This proposal does not change Token Assembly approval rights for TPPs or GAPs.

ZKsync Foundation
The Foundation may veto Pending or Active proposals through an L1-to-L2 transaction. Under the proposed implementation, the Token Assembly may reverse that veto through the same 1.26 billion ZK override process.

The Foundation retains the L1 fallback approval and legal-veto-extension functions established by the prerequisite Guardian-dissolution ZIP.

Governance interfaces and monitoring
The governance interface must support council proposal, council sponsorship, Token Assembly veto, veto extension, override proposal, override execution, Protocol Timelock, and L1 approval states.

All council proposals and vetoes should trigger public notifications to delegates, Security Council members, the Foundation, and the wider community. Interfaces should display the 630 million ZK veto threshold, the 315 million ZK extension threshold, the 1.26 billion ZK override requirement, and the applicable deadlines.

Governance Procedures
The ZKsync Governance Procedures must be amended to reflect Security Council proposal rights, the Token Assembly veto and override processes, the Foundation safety veto, and the revised role of the current Protocol Timelock and Protocol Governor.

Backwards Compatibility
This proposal changes the governance process for future ZIPs and is therefore not procedurally backwards compatible with the current affirmative-vote model.

After activation:

ZIPs must be originated through the Council Governor;
delegated ZK voting power will ordinarily be used to veto rather than affirmatively approve ZIPs;
a separate higher-threshold Token Assembly process will govern veto overrides;
the new Veto Governor will replace the current Protocol Governor as proposer, executor, and canceller on the existing Protocol Timelock; and
governance interfaces and indexing services must support the council-to-veto and override lifecycles.

The proposal does not change application-facing transaction formats, smart contract interfaces, or validity rules for ordinary ZKsync transactions. The Token Governor and GovOps Governor proposal processes remain unchanged.

Any ZIP pending in the current Protocol Governor at the activation boundary must be handled under a published transition plan. No proposal should remain dependent on roles that are revoked during migration.

Security Considerations
The optimistic model allows a proposal to advance without affirmative Token Assembly participation. This improves liveness but makes public notice, monitoring, accessible technical materials, and a meaningful veto period essential. The seven-day veto period, late-veto extension, Foundation veto, Token Assembly override process, collective Security Council L1 approval, and existing L1 delays provide defense in depth.

The 1.26 billion ZK override protects against veto griefing and a unilateral Foundation denial of service, but it also means that a veto is not absolute. The override remains a Token Assembly decision: neither the Security Council, the Foundation, nor the administrator can invoke it without the required token vote. The feasibility of reaching 1.26 billion ZK in For votes should be assessed against historical participation before deployment.

As proposed, the override can reverse both a token-holder veto and a Foundation safety veto because both place the proposal in the Defeated state. Restricting the override to token-holder vetoes would require additional state tracking and a further modification to the audited code. The final implementation and documentation must make the selected behavior explicit.

If the Security Council cannot satisfy the L1 approval threshold, the Foundation may use the fallback approval path established by the prerequisite ZIP. If both bodies refuse or are unavailable, the upgrade will not execute. This is the intended two-body blocking property of the design.

The governorAdmin and council-token admin may change parameters and membership. Assigning these roles to the aliased ProtocolUpgradeHandler subjects their use to the full ZIP and L1 approval path, but also makes correct L1-to-L2 aliasing and cross-domain execution critical. All aliases and administrative calls must be tested on a fork.

The existing Protocol Timelock is retained because the ProtocolUpgradeHandler accepts messages only from that address. Incorrectly revoking the current governor’s roles before the Veto Governor is fully configured could make protocol governance inoperable. The role migration must be atomic where possible and verified against the final execution manifest.

The generic council-governance contracts were reviewed by Certora in December 2025 at commit 6680eb4, according to the supporting technical materials. The ZKsync-specific council counting, fixed veto-supply base, deployment parameters, override-governor integration, L1-to-L2 administration, and complete role migration require their own review before submission.

Matter Labs, the company behind the ZKsync protocol, has open-sourced the core permissioning engine of Prividium, its enterprise blockchain platform. The code went public on September 8, 2026, under the Apache 2.0 license.

Germany’s Deutsche Bundesbank is the first organization testing a self-hosted instance. The Bundesbank is collaborating with Matter Labs on both design and testing for its self-hosted deployment.

The release does not hand over everything. Matter Labs is keeping its enterprise tooling, including user interfaces and deployment tools, proprietary. The engine is open. The polished dashboard around it still comes with a bill.

What’s actually in the repo The release covers one main app and six packages. All of it lives in a public GitHub repository called matter-labs/prividium-core.

The permissioning engine is the part that decides who can do what on a private chain. For a regulated institution, that layer matters a lot. Permissions and auditability are the features compliance teams actually lose sleep over.

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This piece completes a broader stack that was already public. ZKsync OS, the Atlas sequencer, the Airbender prover, and the interoperability contracts were all open-sourced before this announcement.

With the permissioning engine added, institutions can now independently build permissioned chains using publicly shared code. Previously, the gatekeeping layer was the missing puzzle piece.

The Apache 2.0 license lets institutions inspect and modify the engine without signing a commercial agreement for that specific component. A bank can read every line, change what it needs, and run it in-house without needing Matter Labs’ permission to do so.

Why a central bank cares about vendor lock-in Prividium is built for validium-style chains. In this model, transaction data stays off-chain, which keeps sensitive financial activity private. The chain still anchors to Ethereum through zero-knowledge proofs.

Matter Labs framed the open-source move as a response to institutional feedback. Large organizations told the company they were wary of depending on a single vendor for critical technology.

Opening the permissioning engine addresses that worry at the layer where it bites hardest. If the gatekeeping logic is public, an institution can verify it does what it claims and keep it running regardless of what happens to the vendor.

What this means The business model here is a familiar one: give away the engine, sell the car. Matter Labs keeps control over the commercial services that make deployment easier, while removing the biggest objection institutions raise in procurement meetings.

The Bundesbank test is the clearest signal of where this is aimed. A German central bank running a self-hosted Prividium instance is a meaningful credibility marker for ZKsync’s enterprise ambitions, though it remains a test rather than a production rollout.

Prividium chains anchor to Ethereum through zero-knowledge proofs, so institutional adoption of this model would route more enterprise activity back to Ethereum as the settlement layer.

There are also open questions about how far an open engine goes on its own. Institutions that self-host still need the skills to run and maintain the stack. The proprietary deployment tools exist precisely because that work is not trivial.

Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.

The Sept. 8 release keeps enterprise tools commercial. Matter Labs says the Bundesbank is testing a self-hosted deployment.

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Matter Labs, the company behind ZKsync, has open-sourced the core permissioning engine of Prividium, its distributed ledger technology platform built for financial institutions. The move is designed to give regulated firms greater control over their blockchain infrastructure and reduce their dependence on any single vendor.

Why Matter Labs Made the Change The decision was driven directly by feedback from the institutions Prividium is built to serve. Regulated firms told Matter Labs they needed to run critical infrastructure themselves rather than depend fully on a vendor. Matter Labs CEO Alex Gluchowski was direct about the rationale: he said.

That said, the open-source release does not cover every part of the product.

It is also worth noting that several Prividium components were already publicly available, including the ZKsync OS core, the Atlas sequencer, the Airbender prover, the interoperability contracts, and the block explorer. The permissioning engine, which governs roles and access controls, is the latest addition to that list.

Bundesbank Leads the Way Matter Labs added that it will continue collaborating with the Bundesbank on the platform's design and testing going forward.

Prividium is designed around a technical model that keeps sensitive data off public networks while still anchoring transactions to Ethereum. For regulated institutions navigating strict data residency and compliance requirements, that combination is increasingly attractive.

Sources:
The Block: ZKsync developer Matter Labs open-sources Prividium permissioning engine; Bundesbank tests platform
Crypto Economy: Matter Labs Releases Prividium Permissioning Code With Bundesbank Running Infrastructure Trials
Matter Labs: The Company Behind Prividium

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Glassnode just quietly expanded the scope of one of its more niche but increasingly important tools. The blockchain analytics firm’s latency monitor now tracks transaction submission round-trip times to sequencer endpoints on three additional Ethereum Layer 2 networks: Ink, OP Mainnet, and ZKsync Era.

Why sequencer latency matters more than you think Layer 2 networks like Ink, OP Mainnet, and ZKsync Era don’t work like Ethereum’s base layer. They use single sequencers to order transactions, and they lack public mempools. That means there’s no place to sit and watch pending transactions before they’re included in a block. Your transaction either gets to the sequencer fast, or it doesn’t.

For high-frequency traders and market makers, this creates a co-location problem similar to what traditional finance dealt with decades ago. If you’re running a trading bot from a server in Singapore and the sequencer sits in Virginia, you’re at a structural disadvantage against someone whose infrastructure is closer to the action.

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Glassnode’s latency monitor addresses this by deploying global probes across platforms like Fly.io and AWS in Asia, Europe, and the Americas. These probes measure the round-trip time for submitting transactions to each network’s sequencer, giving traders hard data to inform their infrastructure decisions.

The tool already covered centralized exchange APIs, other Layer 2 networks like Base and Arbitrum One, and even Solana validators. Adding Ink, OP Mainnet, and ZKsync Era broadens its coverage of the chains where serious trading volume is increasingly migrating.

The three new additions Ink is the youngest of the trio. Incubated by Kraken and built on the OP Stack as an optimistic rollup, Ink launched its mainnet in December 2024. It made a splash early, processing over 1 million transactions within its first 24 hours of operation. With block production intervals of roughly 1 second, Ink is positioned as one of the faster execution environments among Ethereum L2s.

Ink has also made infrastructure moves that signal long-term ambitions. The chain transitioned to Optimism’s fully managed OP Enterprise service in June 2026, a shift designed to offload operational overhead so the team can focus on ecosystem growth rather than sequencer maintenance.

OP Mainnet is the original Optimism rollup and one of the most established Layer 2 networks in the Ethereum ecosystem. It runs on 2-second block intervals.

ZKsync Era takes a different technical approach entirely. As a ZK-rollup rather than an optimistic rollup, it uses zero-knowledge proofs to validate transactions. Adding ZKsync Era to the monitor gives traders comparative data across both major rollup architectures.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

The week of August 17–23 brings several token unlocks across the crypto market, with ZKsync (ZK), Kaito (KAITO), LayerZero (ZRO), Meteora (MET), SOON and MBG among the tokens releasing fresh supply. The releases range from smaller distributions to larger events that could increase short-term market volatility.

Token unlocks do not automatically mean prices will fall. The impact depends on the size of the release, circulating supply, liquidity and whether newly available tokens are sold or absorbed by buyers.

ZKsync (ZK)ZKsync is scheduled for a token unlock on August 17. The project’s market value at around $76.80 million, with approximately $1.31 million worth of ZK tokens set to unlock.

That represents around 1.70% of its market value, making it one of the smaller releases on this week’s calendar.

Kaito faces a much larger supply event on August 20 at 03:00. Its current market value is around $84.29 million, while the scheduled release is valued at approximately $9.09 million, equal to 10.74% of market value.

Binance’s token-unlock data also lists around 32.6 million KAITO, worth approximately $11.48 million, representing about 7.63% of circulating supply.

Tokenomist’s August calendar places the August 20 KAITO cliff unlock at around $29.4 million, or 3.26% of total supply, showing how valuations can differ across tracking platforms.

LayerZero (ZRO)LayerZero is another major event on August 20 at 6:00 PM. The data estimates the release at around $18.93 million, equal to 6.78% of market value.

Binance data puts the release at 25.71 million ZRO, worth around $19.39 million and equal to approximately 4.4% of circulating supply.

Tokenomist estimates the August 20 cliff portion at about $21 million, or 2.57% of total supply.

SOON, MBG and METSOON will unlock 20.24 million tokens on August 23, worth roughly $3.85 million and equal to 3.76% of circulating supply.

MBG by MultiBank Group will release 27.15 million tokens on August 22, valued at approximately $2.85 million, representing 6.16% of circulating supply.

Meteora (MET) has an August 23 unlock at 03:00. At present its market value is around $88.24 million, with approximately $1.16 million worth of tokens being released, equal to 1.31% of market value.

August Unlock PictureTokenomist estimates around $876 million in cliff unlocks during August, with approximately $231 million still ahead.

Earlier this month, HYPE recorded a roughly $564 million cliff unlock on August 6, equal to only 0.99% of its total supply.

Other upcoming releases include:

YZY: $35.6M on Aug. 16, 12.1% of total supplyKAITO: $29.4M on Aug. 20ZRO: $21M on Aug. 20H: $21.3M on Aug. 25HUMA: $9.3M on Aug. 26August 20 remains the biggest upcoming day by cliff-unlock value, with KAITO and ZRO accounting for most of the release.

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Tradable, the ParaFi-backed private credit tokenization platform, has begun migrating $1 billion in institutional-grade private credit assets to the @StellarOrg blockchain, shifting its portfolio away from ZKsync. The firm is deploying $XLM to handle the full deal lifecycle, including compliance controls and investor onboarding, for alternative assets that were previously held in opaque, siloed legacy systems.

From ZKsync to StellarTradable has been building its private credit infrastructure on ZKsync, where its on-chain technology allowed institutional asset managers to migrate investment strategies on-chain and access a broader investor base. The pivot to Stellar signals a strategic shift toward a network with deeper institutional roots and a more established compliance architecture. Tradable operates as a private credit tokenization and liquidity platform, providing deal ownership management and access to institutional-grade private credit deals.

The move also reflects Stellar's growing pull in the real-world asset space. In the first half of 2026, Stellar crossed $3 billion in tokenized real-world assets, hitting the $1 billion, $2 billion, and $3 billion marks all within six months. That momentum has attracted a roster of well-known institutional names. A growing number of regulated financial institutions, including Franklin Templeton, PayPal, WisdomTree, and MoneyGram, have chosen the Stellar network for settlement, tokenized assets, and global payments.

Why Stellar for Institutional Private CreditTradable's choice of Stellar is consistent with the network's positioning as a compliance-first blockchain for regulated asset issuance. Franklin Templeton pioneered tokenized treasuries on Stellar, enabling 24/7 trading of U.S. government securities with under 6-second settlements and near-zero transaction costs. WisdomTree, with over $100 billion in AUM, offers 13 digital funds on Stellar through WisdomTree Prime, seamlessly integrating fiat, digital assets, and tokenized investments.

The compliance infrastructure underpinning these deployments is built directly into the protocol. Nearly a decade of work with Securrency, now DTCC Digital Assets, helped embed compliance tools such as clawbacks, transfer restrictions, and identity controls directly into the Stellar network. That foundation has made Stellar the preferred venue for institutions that need more than speed. For regulated firms, moving assets on-chain requires compliance with securities laws, sanctions requirements, and investor protections, creating demand for blockchain infrastructure that can support identity checks, transfer restrictions, and other compliance controls.

Tradable's migration adds further institutional weight to a network that is increasingly becoming the default rail for tokenized private markets. With $1 billion in private credit moving from ZKsync to Stellar, the deployment is one of the larger chain migrations in the private credit tokenization space to date.

Sources
Markets Media: Tradable Tokenizes $1.7bn of Institutional-Grade Private Credit Positions
CoinDesk: How Stellar Became Part of DTCC's Tokenization Push for Wall Street Securities Onchain
Messari: State of Stellar Q1 2026

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Five regional lenders in the United States—Huntington Bancshares, First Horizon, M&T Bank, KeyCorp, and Old National Bancorp—have initiated a major shift in digital finance infrastructure by becoming design partners on Cari Network, leveraging Prividium atop the ZKsync platform. Together, these institutions manage more than $600 billion in total deposits, and their combined move signals evolving priorities in programmable settlement technologies for regulated entities.

Regulated Banks Confront Longstanding Settlement ChallengesThe ongoing transformation in financial markets has exposed persistent issues for banks navigating demands from both regulators and the marketplace. Regulatory agencies require control over participant data and governance, while increasingly digital markets expect instant, round-the-clock settlement. As stablecoin volume climbed to $5.7 trillion in 2024, analysis from the U.S. Treasury suggested this trend could drain up to $6.6 trillion from the banking sector, intensifying pressures on medium-sized lenders whose stability often hinges on deposit retention.

How Prividium and ZKsync Address Privacy and TrustLegacy attempts to modernize settlement have run into trade-offs. Permissioned chains such as JPMorgan Coin preserved internal oversight but lacked connectivity. Public blockchains offered broad access but placed sensitive data on public ledgers, while shared protocols introduced third-party intermediaries, which imposed trust models unsuited for high-stakes financial networks. Recognizing these limitations, network participants are adopting zero-knowledge (ZK) proofs, a cryptographic advance that confirms transactions without revealing underlying details. This eliminates the need for a trusted operator and shifts the source of settlement assurance to transparent mathematical proofs.

Prividium provides the technical framework for banks to each operate their own chain, setting governance and compliance policies internally, while all settlement proof is posted to Ethereum. The design ensures no centralized authority oversees the process, preserving institutional autonomy and maintaining network consensus based on verifiable cryptography rather than contractual obligations.

Cari Network describes itself as an infrastructure initiative for tokenized deposit settlement, designed for regulated banking, and led by founder Eugene Ludwig, who served as the 27th U.S. Comptroller of the Currency. His leadership brings a regulatory lens to network architecture and priorities.

In highlighting the significance of the development, Alex Gluchowski noted,

“Regulated finance is moving to ZKsync.”

By participating as design partners, the five regional lenders position themselves at the forefront of deploying zero-knowledge technology in regulated banking. The decision to avoid closed proprietary systems and instead interface directly with public infrastructure reflects a consensus that mathematical validity, rather than centralized influence, should underpin future settlement operations.

The adoption of ZKsync and Prividium is seen as a response to both market competition from digital assets and the heightened need for verifiable, privacy-preserving settlement. As regional banks respond to shrinking deposit bases and stricter oversight, programmable networks anchored by cryptographic guarantees may become a central feature of the sector’s digital evolution.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

BitGo, a leading provider of crypto asset custody, has teamed up with Ethereum-based scaling protocol ZKsync to create a new infrastructure solution targeting the banking sector. The collaboration aims to empower financial institutions to adopt blockchain-based money transfer processes within a fully regulated framework, bridging the gap between traditional banking and digital assets.

Tokenized Deposits Open New Digital Channels for BanksTokenized deposits have recently taken center stage within the crypto ecosystem, providing banks with an innovative way to manage deposits as digital assets on blockchain networks. This approach keeps funds within the existing banking system, while enabling banks to take advantage of programmable transaction features typically associated with cryptocurrencies. Unlike stablecoins, tokenized deposits allow for the creation of new financial products while operating under current regulatory structures, paving the way for further innovation in the sector.

According to a joint announcement, the platform is already undergoing pilot tests in collaboration with regulated financial institutions. The solution enables banks to offer payment services over blockchain technology without having to independently build or manage complex infrastructure, while ensuring full compliance with regulatory oversight requirements.

Comprehensive Compliance-Driven Digital TransformationThe financial industry has been actively seeking robust solutions to integrate traditional assets with blockchain technology. The stack developed by BitGo and ZKsync provides a comprehensive suite of services tailored to banks and other financial institutions, streamlining the process of adopting blockchain-compatible systems. This allows institutions to accelerate their digital transformation without needing large-scale changes to their existing operations.

Regulatory compliance stands out as one of the primary features of the new infrastructure. The platform is also designed to offer the scalability and transaction throughput necessary to accommodate the high volumes typical of mainstream financial applications, addressing a key challenge for blockchain adoption in the banking sector.

The companies have stated that the new platform is on track to enter broader production environments by the end of the year, aiming for wider deployment and adoption across the industry.

Management from BitGo and ZKsync noted that some financial institutions are already piloting the solution and the goal is to achieve widespread use in the near future.

Bank partnerships for crypto-based payment applications are becoming increasingly visible across the sector. This collaboration could serve as a significant example of how financial institutions are adapting to new technologies and integrating blockchain solutions into their existing business models.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Digital asset infrastructure company BitGo is partnering with ZKsync, a leading Ethereum Layer 2 scaling protocol, to develop fiat tokenization infrastructure for banks. 

The resulting products will be regulatory-compliant and institutional-grade settlements, with all the benefits of blockchain technology – 24/7 availability, instant settlements, security, and privacy.

BitGo brings fiat to blockchainBitGo has been at the forefront of developments in the crypto space since its launch in 2013. One of its best creations is multi-sig wallet technology, which has greatly improved security in the ecosystem and even encouraged institutional uptake of said wallets.

Its latest partnership now addresses the need for banks to tokenize fiat deposits to enable faster settlements and underpin new financial products.

Unlike asset tokenization led by Ripple Labs, this infrastructure will bridge fiat and blockchain without requiring stablecoins.

The project is currently in its testing phase, with high expectations of massive institutional uptake following its official deployment later this year.

The stablecoin dilemmaThere has been a long-standing disagreement between banks and stablecoin issuers on the grounds that stablecoin yields diminish bank deposits.

A draft of the Clarity Act attempted to address this situation, but the latest challenge emerged when Coinbase rejected a ban on stablecoin yields.

While the BitGo-ZKsync partnership does not resolve this issue, it brings a whopping $450 trillion in traditional finance funds to blockchain.

Banks have wanted to modernize settlement and treasury ops for years. The infrastructure just wasn't there.@BitGo x @zksync changes that. Tokenized deposits, institutional custody, always-on settlement. Built for regulated banks, ready to deploy.

👇 https://t.co/Fj7hWo4cpV

— BitGo (@BitGo) March 25, 2026 BitGo stock (NYSE: BTGO) was trading at $10.00 at the time of writing, 2.16% higher than the previous day’s closing price.

Source: MarketWatch

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Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

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BitGo and ZKsync build tokenized deposit rails to move banks onchain

Custody specialist BitGo has joined forces with ZKsync to launch a tokenization platform designed to serve banking and regulated financial institutions. The project centers on converting traditional fiat deposits into blockchain-based tokens, aiming to deliver quicker transaction settlement while retaining oversight and security required by compliance-focused enterprises.

Collaboration Targets Next-Generation Banking NeedsBitGo is a well-established provider of digital asset custody solutions, safeguarding crypto and tokenized holdings with a focus on security and regulatory compliance. ZKsync, on the other hand, is a Layer 2 blockchain protocol designed to scale the Ethereum network by offering high-throughput, low-cost transactions secured by zero-knowledge proofs. This alliance blends secure institutional custody with advanced blockchain infrastructure.

The newly unveiled tokenization platform enables banks to issue and manage digital tokens representing fiat deposits directly on blockchain rails. Rather than relying on stablecoins as intermediaries, this model allows banks to process and settle transactions in real time. The system is engineered to function within existing frameworks without forcing banks to undergo disruptive technology migrations, making adoption less burdensome for traditional institutions.

Compliance and Control Central to Network DesignA distinguishing feature of the platform is its compliance-oriented architecture. Permission-based access controls are built into the system, letting financial institutions carefully govern who participates within their networks and aligning the platform with current legal and data protection standards. Unlike open public ledgers, this permissioned approach is expected to satisfy institutional demands for regulatory certainty.

Direct deposit tokenization increases operational transparency and settlement speed, granting banks the ability to process payments at any time while maintaining established controls. By holding custody of client assets within their infrastructure, participating banks avoid the liquidity fragmentation often associated with stablecoins and external crypto vehicles. This approach is designed to reduce potential conflicts between blockchain providers and conventional banking systems.

Testing Phase and Expansion PlansThe platform is currently being piloted with select regulated banks to assess its technical and legal resilience. After the verification phase, both BitGo and ZKsync anticipate expanding the solution for broader institutional access throughout the year. This move comes at a time when financial authorities are reevaluating how blockchain and asset tokenization can fit within established policy regimes.

Layer 2 blockchain technology underpins the system’s ability to process large transaction volumes cost-effectively. This positions the infrastructure as a potential backbone for cross-border payments or new financial instruments, helping banks build programmable finance capabilities while operating within existing regulatory parameters. The measured approach adopted by BitGo and ZKsync may facilitate the entry of more traditional financial institutions into digital asset markets, bridging the gap between conventional banking and blockchain technology.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Rubio: US and Iran to continue technical consultations at the end of this month

Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)

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According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.

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US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

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According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

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