Zama has introduced its Confidential RFQ (Request for Quote) protocol, designed to enable institutional investors to execute large-scale transactions without revealing trade size, assets, or direction. Announced by Zama founder Rand, the protocol is currently in private testing on the Ethereum mainnet and is expected to be publicly released in September, with plans for multi-chain support. The protocol utilizes the ERC-7984 confidential token standard and employs sealed-bid auctions to allow professional market makers to compete in filling crypto trades, addressing issues like MEV and front-running associated with on-chain transparency. All swap fees are allocated to buy back and burn ZAMA tokens, with no front-end fees. Initially, the private test version supports trading pairs such as cUSDT/cUSDC, cZAMA/cUSDC, and cSteakcUSDC/cUSDC, with plans to expand to more stablecoins, tokens, RWA, and tokenized stocks based on demand.