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Overview

The Ethereum ecosystem has developed multiple standards addressing institutional privacy needs—from permissioned tokenized securities to unlinkable payments and confidential transfers. This survey catalogs the current standards landscape, maps standards to use cases, identifies gaps, and provides decision guidance.
Scope: Standards directly relevant to institutional privacy. Excludes general-purpose token standards (ERC-20, ERC-721) unless they have privacy-specific extensions.

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TLDR for Different Personas

Standards define interoperability boundaries—choosing the right standard determines which counterparties, custodians, and service providers you can work with. ERC-3643 dominates compliant securities; ERC-7573 is emerging for settlement.
Seven core standards cover most institutional privacy needs. Implementation maturity varies—ERC-3643 is production-ready, while ERC-7945/8065 are draft. Gaps exist in compliance oracle interfaces and cross-L2 coordination.

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Standards Catalog

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Core Privacy Standards

StandardPurposeStatusInstitutional Fit
ERC-3643Permissioned tokenized securitiesFinalHigh
ERC-7573Cross-chain DvP coordinationDraftHigh
EIP-5564Stealth addressesFinalMedium
EIP-6123Derivatives lifecycleFinalHigh
EIP-7805Fork Choice Inclusion Lists (FOCIL)DraftMedium
ERC-7945Confidential token transfersDraftHigh
ERC-8065ZK token wrapperDraftHigh

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ERC-3643: Permissioned Tokenized Securities

ERC-3643

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Purpose
string
Standard facilitating compliance by enforcing transfer rules on ERC-20 functions (KYC, transfer restrictions, eligibility)
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Status
string
Final
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Key Features
array
  • On-chain identity (ONCHAINID)
  • Modular compliance rules
  • Transfer agent controls
  • Forced transfers for recovery
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Institutional Fit
string
High - designed specifically for regulated securities
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Vendor Support
string
Tokeny, multiple custodians
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Pattern Support
link
ERC-3643 RWA Tokenization
Limitations: Privacy limited to access control (not cryptographic); all transactions visible to permissioned parties; limited DeFi interoperability—requires dedicated protocol deployments (e.g., Aave Horizon)
When to use: Tokenized securities requiring regulatory compliance, transfer restrictions, and corporate actions support.

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ERC-7573: Cross-Chain DvP Coordination

ERC-7573

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Purpose
string
Coordinate atomic settlement across networks (L1↔L2, L2↔L2)
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Status
string
Draft
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Key Features
array
  • Trade object standard
  • Settlement coordinator interface
  • Oracle-based condition verification
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Institutional Fit
string
High - addresses multi-network settlement needs
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Pattern Support
link
Atomic DvP via ERC-7573
Limitations: Requires trusted oracle; cross-network atomicity depends on oracle reliability
When to use: Settlement workflows spanning multiple chains or L2 networks; DvP with counterparties on different networks.

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EIP-5564: Stealth Addresses

EIP-5564

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Purpose
string
Enable unlinkable payments by generating fresh addresses per transaction
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Status
string
Final
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Key Features
array
  • Meta-address publishing
  • Ephemeral key generation
  • Recipient scanning
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Institutional Fit
string
Medium - useful for payments privacy, but scanning overhead at scale
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Vendor Support
string
Railgun implements similar concepts
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Pattern Support
link
Stealth Addresses
Limitations: Recipients must scan chain for payments; no built-in compliance hooks; limited to address unlinkability
When to use: Payment flows where sender-recipient linkage must be hidden from chain observers; requires separate compliance layer.

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EIP-6123: Smart Derivative Contracts

EIP-6123

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Purpose
string
Standardize derivatives lifecycle management on-chain (confirmation, valuation, margin, settlement)
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Status
string
Final
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Key Features
array
  • Trade state machine
  • Margin management
  • Event callbacks
  • Termination handling
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Institutional Fit
string
High - models institutional derivatives workflows
Limitations: Privacy requires separate integration; lifecycle events visible unless combined with privacy layer
When to use: OTC derivatives requiring standardized lifecycle management with clear state transitions and margin handling.

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EIP-7805: Fork Choice Inclusion Lists (FOCIL)

EIP-7805

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Purpose
string
Censorship resistance through inclusion lists that proposers must respect
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Status
string
Draft
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Key Features
array
  • Committee-based inclusion lists
  • Forced transaction inclusion
  • Censorship detection
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Institutional Fit
string
Medium-High - provides banking risk assessment confidence by guaranteeing contract state integrity
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Pattern Support
link
FOCIL Pattern
Limitations: L1-focused; L2 censorship resistance requires separate mechanisms
When to use: Applications requiring strong censorship resistance guarantees; critical settlement transactions that must not be censored.

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ERC-7945: Confidential Token Transfers

ERC-7945

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Purpose
string
Enable private balance and transfer amounts using cryptographic commitments
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Status
string
Draft
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Key Features
array
  • Shielded balances
  • Confidential transfers
  • ZK proofs for validity
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Institutional Fit
string
High - addresses balance/amount privacy needs
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Pattern Support
link
ZK Shielded Balances
Limitations: Draft status; implementation complexity; proving costs
When to use: Token transfers where balance and amount visibility must be hidden from chain observers while maintaining verifiable correctness.

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ERC-8065: ZK Token Wrapper

ERC-8065

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Purpose
string
Add privacy layer to existing ERC-20 tokens through ZK wrapping
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Status
string
Draft
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Key Features
array
  • Wrap any ERC-20 into shielded version
  • Unwrap back to original
  • Compatibility with existing tokens
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Institutional Fit
string
High - enables privacy for existing token infrastructure
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Pattern Support
link
ZK Shielded Balances
Limitations: Draft status; shield/unshield boundaries create linkability risks
When to use: Adding privacy to existing ERC-20 tokens without replacing the token contract; gradual privacy adoption for established tokens.

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Standards by Use Case

Use CasePrimary StandardsSecondary Standards
Private PaymentsEIP-5564, ERC-7945, ERC-8065EIP-7805 (censorship resistance)
Tokenized SecuritiesERC-3643ERC-7573 (settlement)
DvP SettlementERC-7573, EIP-6123ERC-3643 (if securities)
OTC DerivativesEIP-6123ERC-7573 (multi-network)
Cross-Chain OperationsERC-7573EIP-7805 (L1 finality)
Shielded BalancesERC-7945, ERC-8065EIP-5564 (address privacy)
RWA TokenizationERC-3643ERC-7945 (amount privacy)

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Combination Guidance

ERC-3643 (compliance) + ERC-7945 (amount hiding) + ERC-7573 (cross-network DvP)

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Gap Analysis

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Identified Gaps

GapDescriptionImpactPotential Solutions
Compliance Oracle InterfaceNo standard for ZK-compatible compliance attestationsCannot combine privacy with compliance verificationONCHAINID extension; new ERC proposal needed
Selective Disclosure CoordinationNo standard for regulator view keys or audit interfacesManual, vendor-specific audit implementationsView key standard; audit trail ERC
Cross-L2 PrivacyNo standard for private transfers between L2 networksPrivacy breaks at bridge boundariesIBC-style private messaging; rollup coordination
Institutional Key ManagementNo standard for compliance-compatible custody interfacesEach vendor implements differentlyHSM/MPC interface standard
Privacy-Preserving ComplianceNo standard linking ERC-3643 compliance with ZK proofsCannot prove compliance without revealing identityZK credential standards; ERC-3643 ZK extension

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Standards at Risk

ERC-7945 - Draft; interface may evolveMitigation: Track EIP discussions; design for adapter patterns
ERC-8065 - Draft; wrapping semantics may changeMitigation: Monitor discussions; plan for migration paths

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Decision Tree

1

Need compliant securities with transfer restrictions?

YES → ERC-3643
2

Need atomic settlement across networks?

YES → ERC-7573 (+ oracle infrastructure)
3

Need payment unlinkability (hide sender-recipient)?

YES → EIP-5564 (stealth addresses)
4

Need hidden balances/amounts (cryptographic privacy)?

  • New token deployment? → ERC-7945
  • Existing ERC-20? → ERC-8065 (wrapper)
5

Need derivatives lifecycle management?

YES → EIP-6123
6

Need censorship resistance at L1?

YES → EIP-7805 (FOCIL)

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Multi-Standard Architectures

ArchitectureStandardsComplexity
Simple compliant securityERC-3643 aloneLow
Private paymentsEIP-5564 + ERC-7945Medium
Cross-network securities DvPERC-3643 + ERC-7573Medium
Full privacy + complianceERC-3643 + ERC-7945 + custom compliance oracleHigh
Derivatives with privacyEIP-6123 + ERC-7945 + ERC-7573High

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Additional Standards

StandardRelevance to Privacy
EIP-4337Account abstraction enables privacy-preserving paymasters and bundlers
EIP-712Typed data signing used in permit-based privacy flows and meta-transactions
EIP-2771Meta-transactions enable relayer-based privacy (hide original sender)
StandardStatusPotential Impact
ERC-6551FinalToken-bound accounts could enable per-asset privacy policies
EIP-7701DraftNative account abstraction enables institutional key management with custom account rules
EIP-7702DraftEOA code delegation may simplify privacy wallet implementations

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Future Enhancements

This survey should be updated as the standards landscape evolves:
1
Add compliance oracle interface standard when proposed
2
Track cross-L2 messaging standards (IBC-like proposals)
3
Monitor ERC-7945/8065 as they move toward finalization
4
Document institutional key management standards when proposed
5
Add ZK credential standards (e.g., for privacy-preserving KYC)
6
Evaluate account abstraction privacy patterns (EIP-4337 extensions)

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Links and Notes

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Related Approaches

Atomic DvP Settlement

Uses ERC-7573, EIP-6123

Private Bonds

Uses ERC-3643, shielded patterns

Private Payments

Uses stealth addresses, shielded transfers

White-Label Deployment

Infrastructure considerations

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Related Patterns

ERC-3643 RWA

Atomic DvP via ERC-7573

Stealth Addresses

ZK Shielded Balances

FOCIL - Censorship Resistance

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External Resources

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