Flare Launches Confidential Compute With Private Proof of Reserves for Hex Trust's USDX
Stablecoins now hold more than $300 billion in supply after reaching a record $322.4 billion in May 2026 and the US GENIUS Act will take effect no later than January 2027 with a requirement that issuers have their reserves examined by a registered accounting firm every month, which makes the proof of what stands behind a token one of the most scrutinised pieces of data in finance. The difficulty is that reserve balances, fund valuations and collateral positions are information that institutions keep private, so a smart contract that needs to act on them has faced a choice between trusting an intermediary and asking the institution to open its books.
Flare, the blockchain for data, has now brought Flare Confidential Compute to Songbird, its canary network, so that private institutional data can be processed and returned as a signed result that smart contracts verify onchain while the underlying data...
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