Miden Launches USDCx as Privacy Takes Center Stage for Stablecoins

Miden plans to launch USDCx, a privacy-focused stablecoin backed 1:1 by USDC through Circle’s xReserve infrastructure, as the zero-knowledge blockchain prepares for its mainnet launch later this month, according to the project.

Issued natively on Miden, USDCx will allow users to transfer stablecoins without publicly exposing balances, counterparties or transaction histories. Miden says its selective-disclosure system can still provide transaction details to auditors, regulators or counterparties when required.

The launch targets growing demand for confidential onchain finance, particularly for institutional trading, business payments, payroll, cross-border transfers and treasury operations. Miden uses client-side proving, meaning transactions are processed and cryptographically proven on users’ devices rather than fully exposed to the network.

USDCx is expected to go live alongside Miden’s mainnet, targeted for the end of August. The project, spun out of Polygon in 2025 and backed by firms including a16z crypto, views privacy as an important layer for expanding stablecoin use beyond public blockchain transfers.

… Continue reading the full article at the original source below.