Payment service providers and processors
Settle on-chain without exposing merchant flows or transaction economics.
Competitors and counterparties can infer volumes, pricing, and merchant relationships from on-chain flow.
Partners
Settle on-chain while keeping transaction context private.
MIST is privacy infrastructure for regulated money movement. Private payment records, Reserve-based requirements, and selective transaction review help protect commercial context without removing an audit path.
The problem
Public ledgers leak what your settlement should not.
Public ledgers expose transaction sizes, counterparties, and flow patterns to anyone watching, including competitors and the merchants or partners you settle with. If you move value on-chain, that visibility is part of the settlement surface.
Buyers in this position do not want full anonymity, that invites exactly the regulatory scrutiny they are trying to avoid. What they need is regulator-friendly auditability without exposing commercially sensitive data: confidentiality, compliance, and operability together, not traded off against each other.
Who MIST is built for
The pain is different per desk.
Ranked by how soon the pain translates into budget.
OTC desks and prime brokers
Keep trade size and counterparties private while staying compliant.
Large trades leak size and counterparty on a public chain, creating market impact and front-running risk.
Payroll platforms
Pay employees on-chain without exposing compensation data.
Compensation data is sensitive by default, and customer trust depends on keeping it that way.
Corporate treasury and intercompany finance
Move funds internally without signaling cash position or counterparties.
Cash positions and internal transfers signal strategy and liquidity to anyone watching the chain.
Banks and fintechs doing stablecoin payments
Use public-chain settlement with private transaction data.
Want the efficiency of public chain settlement without exposing customer transaction data.
If you already move value on-chain, or plan to within 6 to 12 months, and you can describe who needs to see what and under what conditions, you are likely a fit.
Two ways to build with MIST
Settlement rails and compliance integrations.
For payment providers, OTC desks, payroll, and treasury
Add confidential settlement to the rails you already run, without building a privacy stack from scratch.
- Keep payment details private from competitors and counterparties, while giving an authorized reviewer evidence for a specific transaction.
- Protect sender, recipient, amount, and payment context instead of publishing the full commercial relationship on-chain.
- Add KYC status, jurisdiction, approval, and amount rules to the payment flow without publishing the underlying customer record.
- Keep funds in a defined Reserve policy so the partner responsible for the funds and the applicable controls are clear.
- Connect private withdrawals to an existing product or contract while keeping the requested action fixed through settlement.
- Privacy checks have been measured at about one second on an iPhone; current product cost is about five cents with a lower target.
- Current product scope is USDC over CCTP-supported networks; each payment uses one asset and one Reserve policy.
For compliance and KYC/AML providers
Extend an existing compliance workflow into private settlement.
MIST lets a compliance provider define the requirements for a Reserve. A payment can be required to satisfy KYC status, jurisdiction, approval, or amount rules while the underlying customer record stays private. An authorized reviewer can receive evidence for a specific transaction. Any commercial arrangement around Reserve volume belongs in the pilot agreement, not in the payment system itself.
- Turn your KYC, AML, jurisdiction, approval, or amount rules into requirements a payment must satisfy.
- Keep funds governed by your policy in a separate Reserve from unregulated or differently regulated funds.
- Make it easier to explain which funds passed which controls, without making every other pool inherit the same policy.
- Revenue share or recurring-volume terms can be agreed in the pilot; they are commercial terms, not protocol behavior.
How it works
One private payment record, separate policy pools.
The Chamber
Private payment record
Chamber keeps track of private balances and confirms that payments follow the agreed rules. It never holds the funds.
Reserves
Funds under a defined policy
Each Reserve holds assets for one policy group, such as KYC-approved, AML-screened, or unrestricted funds.
Middleware
Partner controls
Middleware adds the partner’s limits, approvals, eligibility checks, release conditions, and integration instructions.
The result: a payment provider can protect commercial details, define who may review a transaction, and keep funds separated by policy. The exact review workflow and commercial terms are agreed with each partner.
Why now
The protocol boundaries are explicit.
First privacy proof on Starknet
A documented founder milestone from July 2024, implemented in Garaga.
Hidemi live
MIST's first consumer app, launched January 2026.
Combined verification
Payment validity and partner requirements can be checked together before settlement, with the final proving work handled by the selected deployment model.
USDC via CCTP
The current product scope is USDC over CCTP-supported networks; broader cross-chain movement is a separate mechanism from the core model.
Pilot Program
Build the first live Reserves on MIST.
We are onboarding a small group of payment providers, trading desks, treasury teams, and compliance partners to build the first live Reserves on MIST.
This is for you if
- You already move value on-chain, or plan to within 6 to 12 months.
- You have a clear confidentiality problem around sender, recipient, amount, balances, or business terms.
- You need regulator-friendly auditability, not full anonymity.
- You can describe who must see what, and under what conditions.
- You own budget in payments, treasury, trading ops, product, or compliance.
Pilot partners get
- Direct integration support from the core protocol team.
- Input into which compliance modules and chains we prioritize next.
- Priority terms on revenue share once your Reserve goes live.
Talk to the team.
shramee@mist.cash · Telegram @shramee · X @shrameetweets