PANews reported on December 9th that, according to Fortune, Circle will partner with the privacy-focused blockchain Aleo to launch a new stablecoin, USDCx, aiming to provide "bank-grade privacy." The coin's transaction history will be invisible to the public, appearing only as encrypted data "blocks," but each transaction will include a compliance record that Circle can access upon law enforcement request. Aleo co-founder Howard Wu stated that USDCx meets institutions' needs for confidentiality and has already attracted interest from potential partners such as Request Finance and Toku.