Existing privacy coins are currently quite volatile. This leads to an interesting question: Would it be possible, and would it make sense, to create a privacy-focused stablecoin?
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I reckon Tether moving USDT toward Bitcoin-native rails is worth watching. Their RGB direction is especially relevant because RGB uses client-side validation: the asset state is not fully reconstructed from public chain data, and Bitcoin is used more as a commitment/settlement layer.
This is the part I think Kaspa people should pay attention to.
A privacy-focused stablecoin probably should not look like “ERC20 but on Kaspa”.
It probably needs a few layers:
- issuer / reserve layer
- mint and burn rules
- private transfer state
- selective disclosure for audits or compliance
- public supply commitments
- fast settlement anchor
- wallet UX that normal people can actually use