# Miden Pitches a Private-by-Default Finance Stack as Kraken Users Report Questions About Monero Withdrawals

Miden's plan uses USDCx, a token backed one-for-one by USDC with selective disclosure for auditors, while the Kraken reports show the scrutiny that fully private coins face at regulated exchanges.

- Published: 2026-10-24T05:47:39.510Z
- Canonical: https://polylog.news/crypto/2026-10-24/miden-pitches-a-private-by-default-finance-stack-as-kraken-u
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [Miden (PriFi stack)](https://miden.xyz/prifi-stack), [Miden (Bread wallet)](https://miden.xyz/blog/bread-is-privacy-baked-in), [Polylog editors](https://polylog.news), [Edgen](https://www.edgen.tech/news/post/miden-to-launch-privacy-stablecoin-usdcx-backed-11-by-usdc)

Miden, a zero-knowledge blockchain, has announced what it calls the PriFi stack, a set of tools for private on-chain finance. According to Edgen, the base asset is USDCx, a stablecoin issued natively on Miden and backed one-for-one by USDC…

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