ZKsync Developer Launches Institutional Cross-Chain Tool, Plans to Direct Interoperability Fees to ZK

TechFlow news, November 10: According to The Defiant, ZKsync developer Matter Labs launched institutional cross-chain tool Prividium Connect, enabling institutions to privately exchange assets across different blockchains, with initial support for Hyperledger Besu and Prividium Ledger.

Matter Labs also proposed directing interoperability fees generated by the tool's standard public deployments into the existing Fee Flow system, linked to the ZK token. Enabling the fee switch, system integration, and fee parameters still require governance approval.

The tool uses zero-knowledge proofs to verify transaction conditions, ensuring that asset transfers by both exchange parties either complete simultaneously or not at all; final transaction confirmation still depends on the selected settlement layer.

Source: TechFlow