# Miden Will Issue a Private USDC-Backed Stablecoin Through Circle's Reserve Infrastructure

Balances stay hidden by default with selective proof to auditors, arriving as stablecoins take 94% of Argentina's peso-denominated crypto volume.

- Published: 2026-09-01T05:55:37.258Z
- Canonical: https://polylog.news/crypto/2026-09-01/miden-will-issue-a-private-usdc-backed-stablecoin-through-ci
- 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), [crypto.news](https://crypto.news/argentina-crypto-use-holds-as-inflation-cools/)

Miden, the zero-knowledge network that spun out of Polygon in 2025, says it will issue USDCx, a native stablecoin backed one-for-one by USDC held through Circle's xReserve infrastructure, launching alongside its mainnet. Transactions are pr…

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