Miden Plans USDCx: a Privacy Stablecoin Backed by Circle's Own Infrastructure, With Selective Disclosure Built In

Miden, the zero-knowledge blockchain spun out of Polygon, announced USDCx — a stablecoin issued natively on its network, backed 1:1 by USDC held in Circle's xReserve smart contract. Transactions would be private by default (balances, counterparties and histories hidden), with users able to selectively prove balances or provenance to auditors, regulators and counterparties. Launch is targeted alongside Miden's mainnet at the end of August, aimed at institutional trading, payroll and treasury.