Payy Visa Launches a Card with Anonymous Payments on Stablecoins and Compliance with Laws
Date: 2025-08-07 Author: Henry Casey Categories: BUSINESS
After three years of active work, the Polybase Labs team presented an innovative payment product — the Payy Visa card, which combines zero-knowledge-providing (ZKP) technology and a private blockchain registry. This solution is aimed at eliminating the main vulnerability of non-custodial wallets — the transparency of all transactions in public blockchains.
Sid Gandhi, a former iOS engineer at Apple and one of the founders of Polybase Labs, emphasizes that the publicity of blockchain transactions is incompatible with modern privacy requirements and may violate, for example, GDPR standards. In his opinion, today's situation is close to risk: "Soon IP addresses will be directly associated with wallets, and social networks — with users' financial actions."
Payy was created as a second-level payment infrastructure independent of traditional EVM solutions. The system is based on private ZKP-based authorization, which is triggered by touching the card. Funds are debited using the closed Payy Network registry, after which they are instantly transferred to the Visa card.
It is important to note that the team does not neglect the regulatory framework. Initially, the project focused on stablecoins and compliance with AML standards. According to Gandhi, “privacy should not be contrary to the law.”
Pay offers users a simple registration and use process, which makes the service accessible even to those who are far from crypto technologies. At the same time, cardholders retain full control over their assets, can make anonymous transactions and at the same time remain within the legal framework, having passed the KYC check.
The project has already received support from a number of large investment companies, including Robot Ventures, Protocol Labs, 6th Man Ventures, Orange DAO and DBA Crypto. Robert Leshner of Robot Ventures notes that Payy's main innovation is the ability to seamlessly use cryptocurrencies in everyday payments with the familiar Visa card infrastructure.
Payy thus becomes the first solution where privacy technologies are integrated into the familiar financial experience, without requiring users to have any technical training or to give up legal transparency.
