Confidential USD (CUSD) is a stablecoin for confidential payments and transfers. It delivers a digital cash experience for institutions and businesses. Transaction amounts and balances are encrypted while holders earn Treasury-backed yield without relying on volatile privacy coins or isolated privacy chains.
At a glance
Digital cash, built for how money actually moves.
CUSD works like a normal stablecoin in Classic mode. When needed, switch on Private mode to protect amounts and balances without changing the asset.
01
Two modes, one stablecoin
Use CUSD like any stablecoin. Turn on confidential mode when privacy matters.
02
Privacy without privacy coins
Protect payouts, payroll, treasury moves, and large transfers. No volatile privacy coin. No isolated privacy chain.
03
Compliance controls built in
Rule-based controls still apply in confidential mode. Share transaction details with authorized parties only when required without making everything public by default.
04
Cross-chain where it counts
Classic CUSD works across networks where stablecoins already move. Confidential CUSD is live on major payment rails today, with more networks coming online.
05
Fully backed, institutional-grade
Backed via M0's T-bill reserve system. Built to meet institutional expectations for backing and transparency.
06
Yield without trade-offs
Yield is streamed onchain. Confidentiality doesn't change the economics. Holders earn whether balances are visible or not.
⚠ Yield is not live yet
Use cases
Where confidential dollars matter.
From payroll to treasury and settlement, CUSD fits the workflows where amounts and balances shouldn't be public by default.
Payroll
Run payroll in dollars without publishing salaries onchain.
Commerce
Accept and invoice in dollars without exposing margins, volumes, or counterparty identity.
Market making
Move inventory across venues without leaking size or direction.
OTC desks
Settle block trades privately, with disclosure when required.
Cross-border
Send dollars across jurisdictions without exposing flows by default.
Neobanks
Consumer balances that behave like cash, not public feed.
Treasury
Hold, move, and earn on dollars with controls built for institutions.
RWAs
Settle tokenized securities with compliant dollars without revealing portfolio activity or settlement terms.
Agentic finance
Machine-to-machine payments where pricing and balances are not public.
+ more