# 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.

- Published: 2026-08-23T05:46:20.809Z
- Canonical: https://polylog.news/crypto/2026-08-23/miden-will-issue-a-usdc-backed-stablecoin-that-hides-balance
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [Miden (USDCx announcement)](https://miden.xyz/blog/usdcx-on-miden-stablecoins-with-privacy), [Miden (PriFi stack)](https://miden.xyz/prifi-stack)

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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