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Miden plans private stablecoin USDCx with selective disclosure
USDCx is expected to launch at the end of this month alongside the Miden mainnet, with privacy by default and selective proofs for compliance.
Miden said it plans to introduce USDCx, a native stablecoin backed 1:1 by USDC, using Circle’s xReserve infrastructure. The project aims to make transactions private by default while still letting users selectively prove information to auditors, regulators, and counterparties.
According to CoinDesk, USDCx will be issued natively on Miden and backed by Circle’s USDC held in an xReserve smart contract. Users will be able to hold and transfer the stablecoin without publicly revealing balances, counterparties, or transaction histories.
Miden expects USDCx to debut at the same time as the Miden mainnet, targeted for the end of this month. The stablecoin is positioned for payments, trading, payroll, and corporate treasury use cases.
CoinDesk reports the Miden network is a zero-knowledge blockchain built around client-side proving, where transactions are executed and proved on users’ devices rather than exposed to the network. The selective-disclosure system is designed to provide confidentiality for institutional finance while preserving compliance and verifiability.