According to @1HowardWu, Circle has partnered with privacy blockchain Aleo to launch USDCx, a privacy-enhanced and compliant stablecoin for crypto markets, source: @1HowardWu on X, Dec 10, 2025. Howard Wu said USDCx will enable hidden transaction records and asset flows to provide bank-level privacy for institutional settlements and large-value transactions, source: @1HowardWu on X, Dec 10, 2025. Fortune separately reported the Circle-Aleo collaboration and identified the product as USDCx, corroborating the announcement, source: Fortune, Dec 9, 2025. The stated design targets compliant institutional use cases where confidentiality of transaction data is required while transacting in a dollar stablecoin, source: @1HowardWu on X, Dec 10, 2025.