# Miden Puts a Circle-Backed Private Dollar at the Center of Its Network Launch

USDCx will be issued by Miden against USD Coin held in Circle-operated xReserve contracts on Ethereum, with private transfers by default and selective disclosure for auditors and counterparties.

- Published: 2026-09-08T05:45:27.037Z
- Canonical: https://polylog.news/crypto/2026-09-08/miden-puts-a-circle-backed-private-dollar-at-the-center-of-i
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [Miden](https://miden.xyz/blog/usdcx-on-miden-stablecoins-with-privacy), [Miden](https://miden.xyz/prifi-stack)

Miden, the zero-knowledge network that spun out of Polygon as an independent project, is launching USDCx, a native stablecoin backed one-for-one by USD Coin (USDC) and issued through Circle's xReserve infrastructure. Transfers are private b…

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