BenPay launches native privacy-preserving payment functionality, supporting end-to-end encryption and distributed signatures.

Odaily Planet Daily reports that BenPay, a one-stop on-chain financial platform, has released version 1.6.6 of its mini-program, launching native privacy payment functionality. This capability is based on the BenFen native privacy payment public chain, which encrypts accounts, balances, and transaction paths at the protocol layer. In collaboration with State Labs, it employs Move VM reinforcement, MPC, and TSS threshold signatures to achieve distributed execution of the signature and authorization process, ensuring that private keys are never exposed in plaintext and maintaining a near-instantaneous interaction experience.

In terms of functionality, users can create a privacy wallet with one click, converting assets such as stablecoins into "privacy coins" that can be used for payments and receipts. This is suitable for high-privacy scenarios such as large transfers, batch payments, and salary disbursements. The DeFi Earn tool within the BenPay App also provides an aggregation portal for multi-chain blue-chip protocols and supports direct deposit and withdrawal of USDT/USDC across multiple chains, allowing users to manage asset allocation and liquidity within the same application after making privacy payments.