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Morning Edition · Sunday, August 23, 2026Published at 1:46 AM EDT · New York
Miden Will Issue a USDC-Backed Stablecoin That Hides Balances by Default
USDCx uses Circle's xReserve infrastructure for one-to-one backing while transactions stay private, with users able to prove balances selectively to auditors and counterparties.
Miden, the zero-knowledge network that spun out of Polygon as an independent project in April 2025, has announced USDCx, a stablecoin it will issue natively on its own chain and back one-to-one with USDC held through Circle's xReserve infra…
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Race to Bank and Distribute Stablecoin Reserves
Over 3-6 months, established financial and payments firms compete to custody stablecoin reserves and embed stablecoin rails into cross-border settlement, institutionalizing the plumbing beneath stablecoins.
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