ZKsync Introduces Private Blockchain Platform Prividium

Ethereum Layer 2 protocol ZKsync has launched Prividium, an enterprise-grade blockchain protocol designed to provide financial institutions with private, permissioned, and compliant turnkey solutions for on-chain use cases, like tokenizing real-world assets (RWAs).

ZKsync’s official announcement notes that the protocol is secured by Ethereum and is already in use on the Memento ZK blockchain as part of a project by Deutsche Bank and Memento to build an on-chain fund management tool.

According to ZKsync’s official website, companies can use Prividium to build dedicated, permissioned blockchains within their own infrastructure or private cloud, keeping sensitive data fully under their control while settling every transaction trustlessly on Ethereum.

It ships with a permissioned ledger, role-based access, smart contract support, on-chain identity, and know-your-customer (KYC), know-your-business (KYB), and anti-money laundering (AML) screening.

Prividium expects support for up to 10,000 transactions per second (TPS) to be in place by the end of the year, and transaction fees under $0.01, and approaching $0.001, per the official website.

The official ZKsync X post announcing the new private blockchain protocol lists use case examples like collateral mobility, wholesale cross-border payments, global payroll, and tokenized asset issuance and servicing.

Public vs Private

In other recent RWA blockchain news, synthetic dollar protocol Ethena and leading tokenization firm Securitize announced in March that they are building Converge, an EVM-compatible blockchain optimized for tokenized assets and institutional-grade DeFi.

Unlike Prividium, however, Converge is a public protocol, although it features “permissioned institutional-grade offerings.”

Also recently, pioneering enterprise blockchain company R3 announced that it is integrating its permissioned blockchain protocol Corda with Solana, in what the firm called a “strategic shift to lead the convergence of public and private blockchains.”

ZKsync’s Ethereum Layer-2 rollup Era is maintaining its position as the second-largest tokenized RWA chain with $2.2 billion in RWA total value. That’s behind Ethereum’s $7.2 billion and ahead of No. 3 Stellar’s $485 million, according to RWA.xyz.

The total value of on-chain RWAs is up almost 7% this month, currently at $22.96 billion.

ZKsync’s ZK token is down 4.6% today to trade near $0.06, and down 80% from its June 2024 all-time high of $0.32, according to CoinGecko.