Matter Labs: 30 banks to go live on-chain this year as Prividium Commander launches
Key points
Key takeaways from an MTS — Monitoring the Situation interview with Matter Labs co-founder and chief executive Alex Gluchowski (October 2026):
Prividium Commander launch. Matter Labs has unbundled its institutional platform into Prividium Commander, a control plane letting banks, financial market infrastructures and trading venues launch and run digital-asset businesses on their own terms, on their existing infrastructure and without running a Prividium ledger.
The production gap. After two years with financial institutions, Matter Labs found the hardest part of going from pilot to production is operational complexity — connecting banking users, permissions, compliance and audit tooling — not the underlying blockchain technology.
30 banks this year. Working with Carnet (Car Network), about 30 banks will go live on-chain this year with 100 more in the pipeline, and some of the largest FMIs are expected to move faster than the market anticipates, tokenising enormous amounts of assets — initially in private environments.
Regulation was the unblock. The biggest blockers — regulation and a friendly administration — have now been removed, leaving education and rollout as the constraints; Money20/20 last week was dominated by bank blockchain teams.
Banks move slower than crypto-native players. Regulated institutions are still barely using AI internally and follow a crawl-walk-run path to digital assets, but JPMorgan issued tokenised deposits on Ethereum as recently as last week.
From private to public chains. The near-term transformation is connecting previously-isolated private ledgers; moving to public chains is the next step for most institutions.
Why now: AI and quantum pressure. Financial institutions feel pressure from AI and quantum advances (Q-Day) to modernise core banking systems, favouring standards open to public scrutiny and zero-knowledge proofs over security by obscurity.
Readiness. Commander requires no Prividium ledger — institutions can run it on an existing base chain or public blockchains, with an upgrade path to Matter Labs' ZK-proven chain.
Read more: MTS on YouTube
