A New Model for Private Business Payments @Mysten_Labs has released Tessera, a prototype settlement network built on @SuiNetwork that allows a KYC-gated group of businesses to settle invoices
@Mysten_Labs has released Tessera, a prototype settlement network built on @SuiNetwork that allows a KYC-gated group of businesses to settle invoices using a confidential stablecoin. The design keeps transaction amounts encrypted on-chain while still revealing who paid whom, striking a balance between the transparency of a public ledger and the confidentiality that commercial finance demands.
The problem Tessera is addressing is well established. As Mysten Labs has noted in its own research, sensitive commercial data including trading activity, supplier payments, and stablecoin balances is currently visible to anyone on a public chain, giving competitors potential access to pricing and contract information. Tessera is designed to close that gap for business-to-business settlement without abandoning the auditability that regulators require.
The prototype addresses the regulatory dimension directly. Regulators and auditors are granted time-limited, revocable read access to transaction data, but they do not hold custody over any funds. The code is open source, allowing independent review of the privacy and compliance mechanisms.
Mysten Labs has been building toward this capability for some time. Co-founder Adeniyi Abiodun confirmed earlier this year that confidential transactions are coming to Sui, starting with stablecoins and potentially expanding to stocks, bonds, and other real-world assets. Amounts and balances in Mysten's confidential transfer work are encrypted using Twisted ElGamal over Ristretto255, while sender, receiver, and token type remain visible, mirroring the logic applied in Tessera.
The Tessera prototype sits at the intersection of two persistent challenges for institutional blockchain adoption: financial privacy and regulatory compliance. By restricting network access to KYC-verified participants and granting auditors selective, time-bound visibility, the system tries to replicate the confidentiality of traditional banking settlement while retaining the finality and programmability of a public chain.
The code being open source means the cryptographic assumptions and access control logic are open to public scrutiny, an important signal for any institution evaluating the tooling for production use.
Sources:Sui Blog: Rethinking Privacy for Institutional FinanceThe Defiant: Mysten Labs Promises Free Private Payments at ScaleEGamers: Sui AI Treasury Experiment
