Raycash launches confidential stablecoin payments on Ethereum

The Zama spinout opens a private beta for encrypted dollar balances, peer-to-peer transfers and yield on Ethereum mainnet Raycash, a stablecoin payments startup spun out of confidentiality protocol Zama, is now live on Ethereum mainnet through a private beta. The app lets users hold dollars, send peer-to-peer payments and earn yield, all while keeping the amounts involved encrypted onchain. According to a statement shared exclusively with The Block, Raycash is the first retail payment product built on the Zama Protocol. How Raycash keeps your balance to itself The underlying technology is Fully Homomorphic Encryption, or FHE. It allows computations on encrypted data without decrypting it first, so the network can process a payment without exposing the value being moved. On Raycash, users deposit funds into confidential token formats such as cUSDC. From there, they can transfer to other users or park the balance to earn yield, with the numbers hidden from the public ledger. Transaction amounts are concealed, but sender and recipient addresses remain traceable onchain. The app is also self-custodial, meaning users control their own funds rather than handing them to Raycash. And it do...