# Miden Will Issue a Private USD Coin-Backed Stablecoin Using Circle's Reserve Infrastructure

USDCx would hide balances and counterparties by default while letting holders prove specific facts to auditors, the first stablecoin issued through Circle's xReserve on a privacy-first network.

- Published: 2026-08-28T05:39:41.604Z
- Canonical: https://polylog.news/crypto/2026-08-28/miden-will-issue-a-private-usd-coin-backed-stablecoin-using
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [Miden](https://miden.xyz/blog/usdcx-on-miden-stablecoins-with-privacy), [Miden (PriFi stack)](https://miden.xyz/prifi-stack)

Miden, a network that spun out of Polygon in April 2025, says it will issue USDCx, a stablecoin backed one-for-one by USD Coin held through Circle's xReserve infrastructure, alongside its mainnet launch. Holders would be able to move the to…

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