Miden Readies Mainnet Launch with Privacy-Focused Stablecoin USDCx

Miden, a zero-knowledge-proof blockchain network, is set to launch its mainnet later this month alongside a new stablecoin called USDCx. This privacy-focused coin will be issued natively on the Miden network using Circle's xReserve infrastructure and will have a 1:1 backing by USDC deposited in an xReserve smart contract.

USDCx is designed to keep balances and transaction histories private while allowing selective disclosure of necessary information to auditors, regulators, and transaction counterparties. By default, the coin will not publicly disclose balances, counterparties, or transaction histories.

This means that users can maintain their financial privacy without sacrificing any transparency when needed. USDCx will be backed by a significant amount of USDC deposited in an xReserve smart contract, ensuring its stability and trustworthiness.