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Private USDC Transactions
The first use case for Polybase.
If you transfer USDC today, that transaction will be publicly recorded forever.
It is likely you can be tied back to that transaction in the future. The proliferation of blockchain analytics platforms presents a tracking problem. Both individual and business finances are monitored on open blockchain networks and this information is used against them.
It's like all your bank transactions were public.
Adding privacy to USDC makes it more usable and practical, resulting in higher adoption.
- 1.USDC is already widely used for payments globally (24B in circulation).
- 2.It is redeemable 1:1 for USD — the standard in global finance.
- 3.Circle is a regulated financial institution in the US.
Sid Gandhi (co-founder and CEO) talks about why private USDC transactions are important.