Payy has introduced a Layer-2 network aimed at financial institutions, promising discreet on-chain settlement that works with MetaMask. The rollout is paired with a post-quantum security layer from BMIC designed to protect wallets and staking by eliminating public-key exposure, addressing concerns that privacy alone is insufficient against future cryptographic threats.
Discreet Settlement for Banks
The new Layer-2 (L2) is positioned to resolve what Payy describes as a “transparency bottleneck” for banks. While public blockchains offer auditability, full transparency can deter institutional use where discretion is required for counterparties and transaction flows. By enabling discreet on-chain settlement, the network aims to preserve confidentiality without abandoning blockchain-based settlement mechanisms.
Compatibility with MetaMask, a widely used Ethereum wallet and browser extension, suggests the L2 is intended to integrate with existing institutional and developer workflows, potentially reducing onboarding friction for custodians, traders, and compliance teams.
Beyond Privacy: Post-Quantum Asset Security
Payy’s announcement underscores that transaction privacy alone does not secure digital assets if the underlying cryptography is at risk. Traditional public-key systems used across blockchains are widely believed to be vulnerable to sufficiently powerful quantum computers, raising “harvest now, decrypt later” concerns about data and keys exposed on-chain today.
BMIC’s post-quantum cryptography layer is presented as an answer to this risk. According to the announcement, BMIC secures wallets and staking operations with zero public-key exposure, aiming to prevent adversaries from capturing and later compromising keys as quantum capabilities mature.
Key Details
- Layer-2 network focuses on discreet on-chain settlement for banks and financial institutions.
- Compatible with MetaMask to support existing wallet and application workflows.
- BMIC adds a post-quantum cryptography layer designed to remove public-key exposure for wallets and staking.
- Positioned to address both transaction privacy and long-term cryptographic resilience.
Outlook
Further technical specifications, ecosystem partners, and deployment timelines were not disclosed. The initiative highlights growing institutional interest in blockchain infrastructure that balances confidentiality with security, while preparing for emerging cryptographic risks.