Privacy

Bank-level privacy

The privacy model of Raycash is the same one you already have with your bank: your balance and your transactions are hidden from unauthorized third parties, and visible to the operator that runs the service.

That's deliberate. A bank can see your balance — that's how they meet compliance obligations, run fraud prevention, and talk to you when something goes wrong. What they don't do is publish your balance to the world. Raycash keeps that same bank-level privacy, but brings it onchain where the default everywhere else is "public to everyone."

Who sees what

Hidden from unauthorized third parties — validators, block explorers, chain-analytics firms, other Raycash users, your ex, a stranger on the internet. They see that a transaction happened; they do not see the amount or your balance.

Visible to Raycash — we see your balance and your transaction amounts. That's how we operate the service: compliance, support, card settlement, fee reporting. The amounts are transmitted to us through the Raycash API on your device; we don't read them from the chain, we receive them from you when you use the app.

Visible to your counterparty — whoever you send money to naturally sees the amount you sent them. That's true on every payment system.

The thing Raycash cannot do, that a bank can, is move your money. That's the self-custody half of the model — see Self-custody & recovery.

What's visible on-chain

Amounts are hidden, but something is always onchain:

• Addresses. That transactions happened between two addresses.
• Timing. When transfers occurred.
• The fact that a transfer occurred. Amounts are hidden, existence is not.

Raycash makes onchain clustering harder — for example, by generating a fresh deposit address every time you deposit — but doesn't claim full metadata privacy.

Privacy in the card flow

Card transactions touch a card network through our partners. The network, the merchant, and the settlement path see the transaction — standard for any card, everywhere.

What Raycash's privacy adds: your overall balance and your onchain activity remain hidden from third parties. The fact that you bought a coffee for €3.50 is visible only to the parties that would see it on any card. The fact that you hold €50,000 is visible only to you and to Raycash.

Privacy best practices

• Use a new deposit address every time. The app does this for you. Reusing the same address reduces your privacy because it lets your payers see who else is paying you.
• Be mindful at the onchain withdrawal boundary. Amounts become visible when you send USDC out. If that matters for a specific transaction, consider the amount and timing.
• Assume your counterparty sees what you send them. True of every payment system.

Deep dive

• How it works → Confidential dollars
• Security → FHE & encryption