Crypto
Flare Deploys Confidential Compute on Songbird, Bolsters Institutional Custody Security
Flare has rolled out its confidential compute feature on Songbird, its canary network. This technology enables private institutional data processing and returns signed results that smart contracts can verify on-chain without exposing the underlying data.
The first application of this technology is a proof of reserves extension with Hex Trust's USDX as the inaugural stablecoin. This protocol update aims to strengthen custody security and potentially accelerate institutional adoption in crypto, DeFi, DEX, and CEX ecosystems.