Gordon Liao, Chief Economist at Circle, on Miden`s Privacy Podcast is worth paying attention to - not just for the name, but for what the conversation surfaced.
Stablecoins are becoming financial infrastructure. That framing is more consequential than it sounds. Infrastructure has different requirements than instruments - reliability, confidentiality, and composability at institutional scale rather than just settlement speed.
The AI agent angle is the part most people aren`t thinking about yet. As agents become stablecoin users - executing payments, managing treasury positions, coordinating across protocols autonomously - private transaction design stops being a user preference and becomes a system requirement.
The user base expanding from people to institutions to agents changes what the privacy layer needs to do. Miden`s architecture was built for exactly that progression.
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