Key Moments
- Midnight Foundation President confirmed they have received a legal contract from a potential privacy stablecoin partner.
- The NIGHT token recently reached a peak valuation of $1.4 billion and is currently trading at $0.06402, with a market cap of around $1.06 billion.
- The Midnight team is advancing through its rollout phases, expecting to complete them next year. New features are planned roughly every three months.
Speculation Builds Around a Privacy Stablecoin on Midnight
Midnight, Cardano’s privacy-focused sidechain, is nearing integration with a privacy-centric stablecoin. The news follows growing speculation and confirmation of an ongoing partnership process.
Interest in a stablecoin on Midnight began in the Cardano community, where users discussed the need for enhanced transaction privacy. These discussions intensified after social media exchanges between ecosystem contributors and project leaders.
Community Highlights Privacy Concerns
Stake With Pride, a Cardano DRep and stake pool operator, shared a Reddit screenshot highlighting a common privacy issue. In it, a user showed how a payment recipient could view their USDC balance, exposing sensitive portfolio details.
Sharing this example on X, Stake With Pride emphasized that Midnight could solve such vulnerabilities. A privacy-enabled stablecoin would allow users to transact without revealing wallet balances or transaction history.
“Midnight ZK stablecoins fix this. #Cardano https://t.co/7kQi0VQaT7”
— St₳ke with Pride 🌈 SPO & DRep (@StakeWithPride) December 17, 2025
The post caught attention from key ecosystem participants. Jillian Plomin, CEO of W3i Software (the team behind Cardano’s USDM stablecoin), indicated she has a solution to address these privacy challenges.
Meanwhile, Jason Schober, Head of Marketing at Midnight Foundation, encouraged users to listen to the latest Unshielded Podcast episode featuring Plomin, released December 18.
Following these interactions, Stake With Pride hinted on X that a privacy-oriented stablecoin could be close to deployment on Midnight.
“A new privacy stablecoin on Midnight? 👀
Tune in to the Unshielded Podcast tomorrow. #Cardano https://t.co/u5L8qXByB2 https://t.co/DvLS9h43Pi”
— St₳ke with Pride 🌈 SPO & DRep (@StakeWithPride) December 18, 2025
BREAKING: Midnight Foundation President Fahmi Syed says "a legal contract has been received for a stablecoin partner. Hopefully if we can get it signed, agreed, and legally reviewed, that will be a future announcement in the coming days and weeks." #Cardano $ADA $NIGHT pic.twitter.com/zqoSiEAASY
— Angry Crypto Show (@angrycryptoshow) December 18, 2025
Midnight Foundation Confirms Contract in Progress
During the Unshielded Podcast, Midnight Foundation President Fahmi Syed confirmed that the project has received a legal contract from a potential stablecoin partner.
Syed explained that if the agreement is signed and finalized successfully, the team could announce it officially in the coming days. He did not reveal the partner’s name.
NIGHT Token Performance and Exchange Listings
The potential partnership comes after a major milestone for Midnight: listing its native token, NIGHT, on several popular cryptocurrency exchanges, including Binance Alpha, OKX, Bybit, Gate.io, KuCoin, MEXC, and Kraken.
After launch, NIGHT surpassed a $1 billion valuation and reached a peak of $1.4 billion. Currently, the token trades at $0.06402 with a market capitalization of roughly $1.06 billion.
| Token | Current Price | Peak Valuation | Current Market Cap |
|---|---|---|---|
| NIGHT | $0.06402 | $1.4 billion | Approx. $1.06 billion |
Roadmap Progress and Outlook for Midnight
While NIGHT is already live, the Midnight team continues advancing the remaining rollout phases, expected to finish next year.
Cardano founder Charles Hoskinson noted that users can anticipate new Midnight releases every three months. These updates aim to attract additional partners, including the stablecoin issuer currently in discussions.
Disclaimer
This content is informational and not financial advice. The opinions expressed may include the author’s personal views and do not reflect The Crypto Basic’s position. Readers should conduct their own research before making investment decisions. The Crypto Basic is not responsible for any financial losses.
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