Payy Crypto Wallet Provider Launches Privacy Focused Ethereum L2

Crypto wallet provider Payy has expanded its operation by launching an Ethereum Layer-2 network with support for private ERC-20 transfers. The crypto-inclined firm announced the milestone on X on Feb. 4. The startup said it is already engaging launch partners, including stablecoin issuers, however, it withheld their names with plans to disclose them at a later date.

Payy Attacks Slow Speed for TradFi Investors

Payy is known for operating a privacy-focused wallet alongside a crypto banking card. The latest launch of an Ethereum L2 marks an extension of its services.

Going forward, users of the protocol can now have the network as a custom chain in MetaMask. In addition, every ERC-20 transfer made on the L2 goes through privacy pools by default and no smart contract changes are required.

According to Payy, it expects institutions and fintech firms to be the two core user types on its network. This includes those in search of systems and infrastructures that usher financial flows onchain while limiting public transaction traceability. It is equally open to crypto natives who want to interact with privacy tools without “juggling multiple wallets.”

Payy CEO Sid Gandhi noted that the startup is focused on removing the drudgery involved in large Traditional Finance (TradFi) institutions transferring capital onchain. He admits that there have been several complaints about this situation.

“They cannot move real capital flows onchain if their financial data is exposed to the world,” Gandhi noted.

zKSynC Prepares 2026 Roadmap

Some undisclosed launch partners, including stablecoin issuers, have been signed into this initiative. According to the roadmap, it is only a matter of weeks before their names are revealed.

Based on design, the network is compatible with all Ethereum Virtual Machine (EVM) wallets. The project’s website shows that the L2 is targeted toward enabling private stablecoin transfers on its network, though it supports all ERC-20 tokens.

While new Ethereum L2s are entering the market, the existing ones are focused on establishing themselves within the ecosystem. Around mid-January, zkSync outlined a clear shift toward real-world infrastructure in its 2026 roadmap.

A glance through the plans shows that the network placed banks, asset managers, and regulated firms at the center of this next phase. The goal is to solve privacy, control, and compliance gaps, especially those that have impacted the speed of institutional cryptocurrency investors.

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