# Miden Pitches Private Finance With a USDC-Backed Token as Ethereum Coalition Pushes to Encrypt the Mempool

Miden will issue USDCx through Circle's xReserve with transactions private by default and selective disclosure to auditors, while a separate coalition presses for encrypted transactions before inclusion.

- Published: 2026-09-10T05:53:21.186Z
- Canonical: https://polylog.news/crypto/2026-09-10/miden-pitches-private-finance-with-a-usdc-backed-token-as-et
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [Miden](https://miden.xyz/blog/usdcx-on-miden-stablecoins-with-privacy), [Miden (PriFi)](https://miden.xyz/prifi-stack), [Polylog editors](https://polylog.news)

Miden, the zero-knowledge network that spun out of Polygon in 2025, has announced what it calls the PriFi stack, a set of components for private institutional finance, alongside USDCx, a native stablecoin backed one-for-one by USDC held thr…

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