USDCx enables users to transact without revealing balances, counterparties, or transaction histories, while permitting selective disclosure for compliance purposes.
By Will Canny, AI Boost|Edited by Sheldon Reback1 hr ago2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Miden launches USDCx, a stablecoin focused on privacy. (Unsplash)SummaryShow- Miden is set to launch USDCx, a stablecoin fully backed by USDC through Circle’s xReserve system.
- The stablecoin will ensure private transactions by default, while allowing users to selectively verify balances and other relevant information to auditors and regulators.
- USDCx is anticipated to launch alongside the Miden mainnet at the end of this month, catering to various use cases including payments, trading, and payroll.
Miden is gearing up to unveil a privacy-oriented stablecoin backed by Circle Internet’s USDC, coinciding with the upcoming launch of its mainnet.
The new USDCx will be issued directly on Miden, backed 1:1 by USDC held in a smart contract within Circle’s xReserve framework, according to a recent press release.
This innovative stablecoin allows users to manage and transfer USDCx without disclosing their balances, transaction histories, or counterparties.
The official launch of USDCx is aligned with the rollout of the Miden mainnet, which is expected to occur by the end of this month.
Operating from California, Miden is a zero-knowledge blockchain that emphasizes client-side proving, meaning that transactions are verified on users’ devices rather than being broadcast to the network. This design promotes privacy by default while still enabling users to share information when necessary.
This initiative addresses a significant challenge faced by public blockchains in institutional finance: the need for confidentiality.
Miden aims to maintain compliance without compromising on privacy. Its selective disclosure feature allows users to provide proof of balances and transaction histories to auditors, regulators, and counterparties when necessary.
The lack of privacy has been a major obstacle to the integration of financial activities on the blockchain. Public blockchains typically expose transaction details, which contradicts the confidentiality required by businesses and financial institutions.
Trading firms prefer to keep their positions private, businesses need to safeguard payroll and treasury operations, and individuals often wish to keep their financial activities hidden from public view. Privacy solutions are crucial in adapting the confidentiality of traditional finance to the blockchain while retaining the advantages of crypto's programmability and transparency.
Stablecoins are cryptocurrencies designed to maintain a stable value, generally pegged to the U.S. dollar. They have become an integral part of the crypto ecosystem, facilitating faster transactions and trading without the volatility associated with assets like bitcoin BTC$63,384.91 or ether ETH$1,890.93.
Miden envisions USDCx as a cornerstone for a broader category termed “PriFi,” which encompasses private institutional trading, B2B transactions, payroll, cross-border payments, and corporate treasury management.
The company emerged as an independent project from Polygon in April 2025 and has received backing from investors including a16z crypto, 1kx, and Hack VC.
Read more: The future of crypto payments won't include on-ramps or bridges, Fun CEO says
StablecoinsPrivacyExclusiveAI Disclaimer: Portions of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.Related AssetsBitcoin$63,384.910.28%Ethereum$1,890.931.57%Latest Crypto News- 1Crypto Long & Short:1 hr ago
- 2Smart contract blockchain Solana nearly froze Wednesday, Marinade Finance says2 hrs ago
- 3Standard Chartered-led Anchorpoint launches Hong Kong dollar stablecoin2 hrs ago
- 4America doesn’t need a second-class payments system 3 hrs ago
- 5U.S. CPI inflation slows to 3.4% as expected, bitcoin holds near $64,0003 hrs ago
- 6FlightAware drops Kalshi lawsuit over a market niche that data shows it never took off 4 hrs ago
- 7Russia moves to restrict retail crypto trading to bitcoin, ether and USDT4 hrs ago
- 8XRP trading could get spicy after CPI report as futures bets hit highest since October4 hrs ago
- 9Bitcoin holds near $64,000 as U.S. inflation data looms, Harmony exploit rattles altcoins5 hrs ago
- 10Bank of England to test stablecoin, digital currency use in cross-border finance5 hrs ago
Building the Zcash Machine: Tachyon and Quantum Readiness
Building the Zcash Machine: Tachyon and Quantum Readiness
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
By CoinDesk ResearchJun 30, 2026Commissioned byGenZcashZcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
Why it matters:
Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.
View Full ReportMore From Tech