Miden Launches USDCx Stablecoin with Default Privacy Features
Miden, a blockchain project spun out of Polygon in 2025, has introduced USDCx, a new stablecoin designed to bring default privacy to stablecoins. Transactions on the USDCx network are encrypted by default, with selective disclosure available only when regulators come knocking.
The core technology behind USDCx is Miden's zero-knowledge architecture, which allows the network to verify transactions without revealing sensitive information about users or their balances. This approach maintains scalability without forcing users to choose between speed and confidentiality.
Miden is targeting specific use cases where transparency isn't a feature but a liability, including private payroll, cross-border remittances, and neobank infrastructure. Circle's xReserve infrastructure is involved in issuing USDCx, suggesting demand for confidential stablecoin use cases that its base product doesn't currently address.