TechFlow news: The Solana Foundation has launched Token Extensions, a new SPL token standard for the Solana network similar to Ethereum's ERC-20. Token Extensions aim to help businesses deliver more efficient security and compliance services on the Solana network.
The new standard includes features such as enhanced token interactions, transfer fees for each token swap, and confidential transfers via zero-knowledge proofs.
Already, crypto service provider Paxos and stablecoin issuer GMO-Z.com Trust Company have adopted Solana’s Token Extensions to issue stablecoins.
Solana founder Anatoly Yakovenko said that Token Extensions will provide integrated developer and user experiences, with prominent crypto companies already beginning to build on it.
