Zama's spin-off project Raycash has launched a privacy stablecoin payment app on Ethereum.
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AT A GLANCE
Raycash has launched a private beta on the Ethereum mainnet, offering stablecoin payments that conceal payment amounts and balances.
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Zama spin-off project Raycash launches a privacy-focused stablecoin payment app on Ethereum
PANews November 9 reports, according to The Block, that Raycash, a stablecoin payment app spun off from the confidential computing protocol Zama, has launched on the Ethereum mainnet and opened a private beta. This is the first retail payment product based on the Zama protocol. Users can exchange USDC for confidential tokens at a 1:1 ratio, hiding their balances and transfer amounts when making peer-to-peer payments on-chain. They can also earn yields on idle funds through Morpho within the app, with network fees paid by the app, so users do not need to hold ETH. The project states that the waitlist exceeded 75,000 people before launch and that access will be opened in phases going forward.
PANews reports that Raycash, spun off from Zama, has launched on the Ethereum mainnet and opened its private beta.
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Raycash is known as the first retail payment product based on the Zama protocol.
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Users can exchange USDC for confidential tokens at a 1:1 ratio and hide their balances and transfer amounts when making on-chain peer-to-peer payments.
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Users can earn returns on idle funds through Morpho within the app.
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By applying network fees on behalf of users, they do not need to hold ETH.
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The project stated that the waitlist exceeded 75000 people before launch and will be opened in phases going forward.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Raycash is an app for retail payments. Users can exchange USDC for confidential tokens to make payments, with balances and amounts not publicly displayed during the transaction; the app also offers a feature to earn yields on idle funds and pays network fees on behalf of users.
Why it matters to readers
This shows that the Zama protocol is being used in privacy payment products on Ethereum, but Raycash is still in private testing, and the scale of public use and actual transaction details have not yet been confirmed.
Beginners should focus on understanding three key points: USDC is the exchange gateway, confidential tokens are used to conceal payment information, and ETH fees are paid by the application.
Risks and unknowns
The information comes from PANews’ report on The Block, not the project’s original announcement.
The launch timeline for the private beta, the number of real users, payment transaction volume, and USDC redemption scale have not yet been clarified.
The privacy token mechanism, audit status, and compliance progress were not described in the evidence.
The project side claims that the waiting list exceeds 75000 people, but no evidence has been provided for independent verification.
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Related concepts
Confidential Token
This term is not in the glossary yet. Browse related concepts in the glossary.
