Raycash Launches Ethereum Mainnet Beta for Confidential USDC Stablecoin Payments

Raycash has rolled out a private beta on the Ethereum mainnet for its retail payment application, enabling confidential USD Coin (USDC) transactions. Spun out of privacy protocol developer Zama, the platform allows users to convert USDC at a 1:1 ratio into confidential tokens under the ERC-7984 standard, obscuring account balances and transaction amounts. Network gas fees are abstracted and covered by Raycash, removing the requirement for users to hold Ether (ETH). The rollout follows a pre-launch waitlist that exceeded 75,000 individuals, with access currently being granted in phased batches.