In brief EthSystems launched Tuesday to build “confidential systems for institutional Ethereum,” founded by the team that ran the Ethereum Foundation’s Institutional Privacy Task Force. It is the third organization to spin out of the Foundation this summer, and the first for-profit one, backed by Ethereum treasury firms Bitmine and Sharplink and co-founder Joe Lubin. The firm argues that institutions won’t move stablecoins, tokenized assets, and settlement onto a public ledger until they can hide trade details, positions, and client identities. The group that spent the past year running the Ethereum Foundation’s institutional privacy work has spun out to start…

The European Central Bank is moving the digital euro from planning into testing, with dozens of payment companies joining the next stage of the project.The ECB selected 36 payment service providers (PSPs) to participate in a digital euro pilot, according to an official announcement published Tuesday.The list of selected PSPs includes fintechs Stripe and Revolut alongside traditional banks including Deutsche Bank, UniCredit and BPCE. Revolut has recently adjusted some cryptocurrency services for EU users by phasing out support for Tether USDt.The pilot comes as governments take different approaches to digital currencies. While Europe is expanding testing of its proposed central…

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