# Miden Will Issue a Private, USDC-Backed Stablecoin Using Circle's xReserve Infrastructure

USDCx transactions are private by default, with holders able to prove balances and provenance selectively to auditors, regulators and counterparties.

- Published: 2026-09-03T05:55:38.226Z
- Canonical: https://polylog.news/crypto/2026-09-03/miden-will-issue-a-private-usdc-backed-stablecoin-using-circ
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [Miden](https://miden.xyz/blog/usdcx-on-miden-stablecoins-with-privacy), [Miden](https://miden.xyz/prifi-stack</source-url-placeholder)

The zero-knowledge network Miden will issue USDCx, a stablecoin backed one-for-one by USD Coin held in a Circle xReserve smart contract. Transfers are confidential by default. Rather than publishing balances and counterparties to every obse…

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