On December 31, privacy computing project Zama Protocol officially launched on the Ethereum mainnet, completing the first transfer of cUSDT — an FHE (Fully Homomorphic Encryption)-based privacy stablecoin. This marks the first confidential ERC-20 transfer on Ethereum’s Layer 1, with each transaction costing approximately $0.13. The solution enables on-chain private transfers for any token via “asset wrapping,” allowing transaction amounts and wallet balances to remain confidential on the blockchain. This milestone advances FHE from theory to real-world production and may lay the groundwork for the privacy narrative in 2026.
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