Private stablecoins

The series starts on 23 Oct 2026, the first daily reading. These contracts' past balances could only be read from an archive node for each chain, so earlier days are not filled in. A holding that cannot be read on a day keeps its last reading for up to a week.

Other: AUSD $371K, BUSD $144K, USDS $50K, BOLD $50K, fxUSD $29K, frxUSD $10K, USD1 $1K, USND $71 and USDe $10.

Balances read on 29 Oct 2026, each coin at its DefiLlama price (Data: DefiLlama). Bridged forms count as their coin: USDC.e as USDC, USDT0 as USDT.

One row per system and blockchain: the coins its contracts hold, their value, the contracts read and when. A system's name links to its profile, the protocol list or its watchlist card.

Also read, holding less than $1 of stablecoins: Voidify and Aztec Connect (sunset).

A balance includes funds waiting to be withdrawn and, for a system that takes fees, fees not yet collected. The Aztec row is the USDC locked in Shield's token portal, which backs cUSDC on Aztec in private and public balances alike.

Stablecoins in these systems are not in the figures above.

• PYUSD and USDG confidential balances on Solana. Token-2022 confidential balances are encrypted account by account, and no public field gives their total, so the amount held confidentially cannot be read.
• Sherwood on Robinhood Chain (USDG). Robinhood Chain is not among the chains this collector reads.
• Shield Swap and USDCx on Aleo. Aleo is not among the chains this collector reads; USDCx is backed by USDC in Circle's xReserve.
• Cyclone, zkBob, Nullmask, zERC20, Veil Cash and Payy. DefiLlama's token breakdown showed stablecoins in each on 23 Oct 2026, about $0.69M together, most of it USDT and BUSD in Cyclone and USDC in zkBob, but their contracts were not confirmed from the projects' own code or documents for this release.
• Privacy Cash jlUSDC vault. jlUSDC is a Jupiter Lend deposit token whose conversion to USDC is not read; the vault held 16 jlUSDC on 23 Oct 2026.

The Watchlist follows privacy features built into stablecoins themselves. They are not in the figures above: the coins they cover sit in ordinary accounts, or in networks the site does not count, rather than in a privacy system's contracts. A listing is not an endorsement.

• PYUSD and USDG confidential transfers on Solana Mainnet 4 Jun 2026: Solana re-enabled the ZK ElGamal proof program that confidential transfers depend on; the mint data does not show whether Paxos has approved any accounts for confidential use.
• Arc opt-in privacy (Circle) Research 16 Sep 2026: Arc mainnet went live; Circle's privacy post, dated 10 Jun 2026 and checked on 16 Oct 2026, still described the privacy features as proposed, with no rollout date.
• USDCx on Aleo (Circle xReserve) Live with users 1 Oct 2026: USDCx on Aleo became available in Ledger.
• Visa and Brale private stablecoin settlement test Research 4 Jun 2026: Announced the proof of concept; Visa's head of crypto, Cuy Sheffield, said the work would help it bring these capabilities into production environments, so it was not yet a live service.

Every reading is in stablecoins.csv on the Data page, one row per contract, token and day.

Sources