Private Payments with USDC on Ethereum Now in Beta: Who Will Be Able to See Balances?

Raycash, a privacy-focused payments app spun out of the Zama privacy protocol, has launched its private beta on the Ethereum mainnet, enabling users to hold and transact with USDC while keeping amounts and balances hidden. The app targets dollar-denominated payments where transaction values and wallet balances are shielded from public view on Ethereum. It matters because USDC transfers on Ethereum are otherwise fully transparent by default, and Raycash is betting that confidential payment flows can attract users who want stablecoin convenience without exposing their financial activity. What to watch next is whether the beta expands beyond USDC to other tokens and chains, and whether shielded balances gain traction among payment-focused users ahead of a broader public rollout.