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Raycash, a Zama spin-off, has opened a private beta for an Ethereum stablecoin app offering confidential USDC payments and private yield through Morpho, The Block reports.
Why it mattersThe project says it uses fully homomorphic encryption to keep balances and transaction amounts encrypted. It also handles Ethereum gas fees in the background, so users do not need to hold ETH. That puts a specific use of an advanced computing technique into a payments product. The beta is an early offer, not evidence that the privacy claims have been independently tested.
Discuss: Would you trust a stablecoin app that hides transaction amounts, or do you need public transaction visibility to feel confident using it?
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