Flare Launches Confidential Compute on Songbird to Bring Private Institutional Data Onchain
- —FCC processes private inputs in a TEE and returns a signed result smart contracts can verify
- —First live application is Hex Trust's USDX, confirming 1:1 backing without exposing reserves
- —Initially available on Songbird, with a separate deployment on Flare to follow
- —Use cases include tokenized funds with verifiable NAVs, private-collateral lending and compliance checks
Why it matters: The launch removes a key barrier to moving traditional finance onchain: the need to expose confidential institutional data.
Source: BlockchainReporter