Mysten Labs opened a public beta of Sui's confidential transfers on Devnet on June 8, 2026, using zero-knowledge proofs to shield transaction amounts and wallet balances while leaving addresses and token types visible on the public ledger.
The feature encrypts balances and transfer amounts on-chain through Twisted ElGamal cryptography on the Ristretto255 curve combined with ZK range proofs. Sender addresses, receiver addresses, token types, and timestamps remain public.
Token issuers opt assets into confidential mode one by one. Once activated, issuers can issue "auditor keys" to authorized parties, allowing regulators or compliance firms to decrypt balances on demand without accessing user private keys. Issuers also retain the ability to freeze or seize assets.
Bridge, the stablecoin issuer and payments platform, is testing the feature. Compliance analytics firms TRM Labs and Merkle Science are also evaluating it.
The source code is public on GitHub, but it has not been audited and is described as "a work in progress". Mysten Labs has targeted a testnet release for later in 2026. No mainnet date has been set.
Co-founder and CPO Adeniyi Abiodun framed the push on June 5: "Bear markets separate the teams who build from the teams who tweet. We chose building."
Ethereum has privacy features on its roadmap. Monero and Zcash were built as privacy chains. Sui's approach puts confidential mode at the base protocol layer as an opt-in feature for each token, with auditor-key compliance built in from the start.