Zama spinoff project Raycash launches privacy stablecoin payment app on Ethereum

November 9: According to The Block, Raycash, a stablecoin payment app spun out of confidential computing protocol Zama, has launched on the Ethereum mainnet and opened a private beta — the first retail payment product built on the Zama protocol. Users can convert USDC 1:1 into confidential tokens, hiding balances and transfer amounts during peer-to-peer on-chain payments, and can also earn yield on idle funds through Morpho within the app; network fees are paid by the app, so users do not need to hold ETH. The project said its pre-launch waitlist exceeded 75,000 people, with access to be rolled out in phases.