Stealf is the first neo-banking platform on Solana that enables 100% anonymous stablecoin transactions using Arcium's multi-party computation technology. Founded by three developers passionate about cybersecurity and crypto privacy, Stealf launched in October 2025 with a dual-wallet system that lets users switch between fully compliant public banking and completely anonymous private transactions. The platform is currently in pre-beta phase with a waitlist open for early access, positioning itself as a privacy-first alternative to traditional crypto banking services that require extensive KYC verification for all transactions.
Stealf addresses the growing tension between blockchain transparency and financial privacy. Traditional blockchain transactions leave permanent public records that can be traced using tools like Solscan and Nansen, effectively turning wallets into "digital ID cards." The platform solves this by combining Grid's banking infrastructure with Arcium's Privacy 2.0 technology, allowing users to maintain complete anonymity when desired while still accessing traditional banking features like SEPA transfers and virtual cards when compliance is needed.
As of Q4 2025, Stealf is preparing for its beta launch while waiting for Arcium's mainnet deployment on Solana. The platform operates exclusively with stablecoins to eliminate cryptocurrency volatility, leveraging Solana's capability of up to 50,000 transactions per second with fees averaging $0.00025 per transaction. Circle's USDC dominates 66% of Solana's stablecoin market with over $5.25 billion in circulation, providing deep liquidity for Stealf's operations.
What Are Stealf's Main Features?
Dual-Wallet Architecture: Stealf's core innovation is its two-wallet system within a single account. Users maintain both a public "Grid Wallet" and a private wallet, with seamless fund transfers between them. The separation ensures that no third party can link the two wallets together, giving users full control over their privacy level for each transaction.
Grid Wallet (Public/Compliant): The public wallet includes fast KYC onboarding and provides access to virtual or physical Visa/Mastercard cards, incoming and outgoing SEPA bank transfers, crypto-to-fiat conversion, and complete transaction history. This wallet is designed for daily payments, receiving salaries, and any transactions requiring regulatory compliance. It uses Grid's API suite from Squads, which powers stablecoin accounts for over 400 teams on Solana.
Private Wallet (Anonymous/Encrypted): The private wallet activates with one click and requires no KYC. It uses Arcium's MPC network to encrypt all balances and transaction amounts, making transfers completely anonymous with no geographic restrictions. The wallet is designed for private savings, sensitive transactions, and asset protection where users want maximum confidentiality.
Arcium MPC Privacy Technology: Stealf integrates Arcium's multi-party computation engine, which represents Privacy 2.0 for Solana. When users initiate private transactions, three operations occur simultaneously: the sender's address is masked by a randomly selected relayer, the recipient receives funds through a Program Derived Address (PDA) instead of their actual wallet, and the transfer amount is encrypted client-side using x25519 ECDH and RescueCipher before being embedded in transaction data. The actual encrypted amount is processed by Arcium's distributed node network, which computes balance updates across secret shares without ever revealing plaintext amounts on-chain.
Stablecoin-Only Operations: The platform operates exclusively with stablecoins to eliminate the volatility risk associated with traditional cryptocurrencies. This provides all the benefits of blockchain technology—speed, low fees, global access—while maintaining price stability equivalent to fiat currency.
Automated Card Issuance: Stealf offers automated virtual and physical card issuance for the Grid wallet, allowing users to spend stablecoin balances directly without converting to fiat first. Cards are issued through Grid's banking infrastructure, which connects to global card networks.
Zero-Knowledge Fund Transfers: Users can move funds between their Grid and Private wallets through an anonymous flow designed to prevent any third party from linking the two accounts together, maintaining complete separation between compliant and private financial activities.
How Does Stealf Compare to Traditional Crypto Cards?
Stealf differentiates itself from platforms like Crypto.com and Binance Card by offering true anonymity for private transactions rather than requiring full KYC for all operations. Traditional crypto card providers require identity verification upfront and maintain complete visibility into all user transactions. Stealf's dual-wallet model allows users to choose their privacy level per transaction.
Compared to no-KYC services like Stealths or anonymous wallet providers, Stealf provides the unique advantage of integrated banking features. While anonymous wallets offer privacy, they lack direct access to traditional payment rails like SEPA transfers and card payments. Stealf bridges this gap by letting users switch between fully anonymous crypto operations and compliant banking features within the same account.
The platform's main advantage is flexibility—users who need to receive salaries or make merchant payments can use the Grid wallet with full compliance, then transfer funds to the private wallet for anonymous storage or transactions. Traditional providers force an all-or-nothing choice between full KYC or complete exclusion from banking services.
However, established providers like Crypto.com offer higher spending limits, more extensive merchant acceptance, and operational track records, while Stealf is still in pre-beta with unproven real-world performance as of Q4 2025.
How It Works: User Experience
Using Stealf begins with joining the waitlist and receiving beta access, after which users connect a Solana-compatible wallet to the platform. Upon first login, users choose whether to activate the Grid wallet (with KYC), the Private wallet (no KYC), or both. Most users are expected to activate both wallets to access the full range of compliant banking and anonymous transaction features.
The technical process leverages Solana's Proof of History consensus mechanism combined with Arcium's MPC network. When users initiate a private transaction, the Stealf interface encrypts the transaction details client-side before submitting them to the Arcium network. The MPC cluster retrieves the computation request, processes it using secure multi-party computation where no single node sees the plaintext data, and returns the encrypted result to update balances on-chain. This entire process completes in seconds thanks to Solana's high throughput.
Behind the scenes, private transactions use Program Derived Addresses as intermediaries, with balances stored as encrypted values computed across multiple Arcium network nodes. The relayer network—which consists of distributed nodes that mask transaction origins—provides anonymity strength that increases with network size. As of Q4 2025, Arcium is preparing mainnet launch after completing its testnet phase, with Stealf closely coordinating the platform's beta release to coincide with Arcium's production readiness.
Supported Networks and Integrations
Primary Chain: Solana - 100% of platform operations
Stealf is built exclusively on Solana due to its combination of high transaction throughput (up to 50,000 TPS), minimal fees ($0.00025 average), and growing stablecoin ecosystem. Solana hosts $7.8 billion in total stablecoin value as of November 2025, making it the second-largest stablecoin network after Ethereum. The platform specifically chose Solana because Arcium's Privacy 2.0 technology is native to the Solana ecosystem.
Core Technology Integrations:
- Arcium MPC Network: Provides the privacy layer for anonymous transactions using multi-party computation
- Grid API (Squads): Powers the compliant banking features including KYC, SEPA transfers, card issuance, and account management
- Circle USDC: Primary stablecoin supported, leveraging Circle's $5.25 billion USDC liquidity on Solana
Planned Networks: None announced - single-chain platform
Stealf has not announced plans to expand to additional blockchains. The platform's architecture is tightly integrated with Solana-specific infrastructure, particularly Arcium's confidential computing network, which is designed specifically for Solana's execution environment.
Fees and Costs: What You'll Actually Pay
Platform Fees: Stealf has not publicly disclosed its platform fee structure as of Q4 2025 during the pre-beta phase. The team is expected to announce fee details closer to the official beta launch.
Network Gas Fees: Solana transactions cost approximately $0.00025 per operation, meaning a typical transaction costs less than one cent. Transferring $1,000 in stablecoins incurs roughly $0.00025 in network fees, significantly lower than Ethereum's $1-50 range depending on congestion.
Grid Banking Fees: Virtual and physical card issuance through Grid may include fees for card activation, monthly maintenance, or ATM withdrawals. Grid's standard API pricing for banking features has not been publicly disclosed by Stealf. SEPA transfers typically incur minimal fees in the €0-2 range for outgoing transfers.
MPC Privacy Fees: Using Arcium's MPC network for anonymous transactions will likely include computation fees paid to the network of nodes processing encrypted calculations. These fees are expected to be higher than standard Solana transactions due to the additional computational complexity, but specific pricing has not been announced.
KYC Costs: The Grid wallet requires fast KYC verification, which is provided at no direct cost to users (costs are absorbed by the platform). The Private wallet requires no KYC and has no associated verification fees.
Total cost example: As of Q4 2025, exact fee structures are not publicly available. Users should expect Solana network fees under $0.01 per transaction, plus potential platform fees and premium charges for card services and MPC privacy features to be announced during beta launch.
Security and Audits
Stealf's security model relies on three primary components: Arcium's multi-party computation network, Grid's smart account infrastructure, and Solana's blockchain security. The team stated in their October 2025 Medium announcement that they will undergo "thorough security audits" before any public launch, but no specific audit firms or dates have been announced as of Q4 2025.
The platform's security measures include information-theoretic security through MPC, where private keys and transaction data are split across multiple nodes with no single party ever accessing complete plaintext information. This architecture removes the need to trust hardware manufacturers or attestation services. Grid's smart account infrastructure, which powers over 400 teams on Solana, provides battle-tested security for the compliant banking side with features like vendor diversification and automated failover.
As of November 2025, Stealf has no operational track record because the platform remains in pre-beta development. The team has not experienced any security incidents because public access has not launched. However, users should be aware that Arcium itself has not yet launched on mainnet, meaning the core privacy technology underlying Stealf's anonymous transactions is still in testing phase. Arcium raised $5.5 million in strategic funding in May 2025 and acquired Web2 competitor Inpher in November 2024, demonstrating institutional backing but not yet proving production-scale security.
The platform's dual-wallet architecture introduces a unique risk: if the separation between Grid and Private wallets is compromised through metadata analysis or implementation flaws, the anonymity guarantee breaks down. Stealf acknowledges that anonymity strength depends on having a "sufficiently diversified relayer network," meaning privacy increases as the network grows but may be weaker during early adoption phases.
Who Should Use Stealf?
Privacy-Conscious Crypto Users
Stealf excels for individuals who want financial privacy without completely sacrificing access to traditional banking services. Users concerned about blockchain surveillance tools that track wallet activity and link addresses to identities will benefit from the Private wallet's MPC encryption. The platform enables private savings storage and anonymous peer-to-peer transfers while maintaining the option to interact with compliant financial systems when needed. Example: Users holding $5,000-50,000 in crypto savings who want anonymity but occasionally need to make merchant payments or receive wire transfers.
International Freelancers and Remote Workers
The dual-wallet system serves freelancers who receive payments from clients globally and want to separate business income (Grid wallet with full transaction history for tax purposes) from personal savings (Private wallet for confidential storage). The SEPA transfer capability enables European users to move funds between crypto and traditional bank accounts, while the global card issuance removes geographic restrictions. Example: A developer in Portugal receiving $3,000 monthly in USDC payments who needs transparent records for tax filing but wants personal holdings kept private.
Users in High-Surveillance Jurisdictions
Individuals in countries with strict capital controls or financial monitoring will find value in Stealf's anonymous transaction capabilities. The Private wallet operates without KYC or geographic restrictions, enabling asset protection and cross-border value transfer that bypasses traditional banking surveillance. However, users must understand the legal risks—using anonymous crypto services may violate local regulations in jurisdictions that mandate financial reporting.
Early Adopters and DeFi Enthusiasts
As of Q4 2025, Stealf primarily appeals to users comfortable with beta-phase platforms and willing to accept experimental technology risks. The platform offers early access to Privacy 2.0 technology on Solana, making it attractive for users who want cutting-edge privacy features and are willing to navigate potential bugs, limited customer support, and evolving features during development.
Who Should Avoid Stealf
Users who need high spending limits, extensive merchant acceptance networks, or guaranteed uptime should stick with established crypto card providers like Crypto.com or Coinbase Card. Those requiring immediate access should look elsewhere, as Stealf currently operates on a waitlist basis in pre-beta. Users uncomfortable with regulatory uncertainty around anonymous crypto transactions should also consider more compliant alternatives.
Risks to Consider
Experimental Technology Risk: Stealf's core privacy functionality depends on Arcium's MPC network, which has not yet launched on mainnet as of November 2025. The platform is building on technology that lacks a proven production track record, meaning users face elevated risks of bugs, network outages, or cryptographic implementation flaws during the early phases. The development team acknowledged they are "awaiting the mainnet while continuing app optimizations," confirming the platform is not production-ready.
Regulatory and Legal Risk: Anonymous crypto transactions face increasing regulatory scrutiny globally. The European Union's Markets in Crypto-Assets (MiCA) regulation and evolving anti-money laundering directives may restrict or prohibit no-KYC crypto services. Users in jurisdictions that require financial reporting could face legal consequences for using anonymous transaction features. Financial institutions may freeze or close accounts that receive funds from no-KYC crypto platforms, even if the user has not engaged in illegal activity. As one industry analysis noted in 2025, "Even if you have no malicious intent, the fact of accidentally obtaining cryptocurrency from a questionable source can lead to account blocking, asset freezes, and denial of service."
Privacy Degradation Risk: Stealf's anonymity guarantees depend on the size and diversity of Arcium's relayer network. During early adoption with limited network participants, the privacy level may be substantially weaker than advertised. Sophisticated chain analysis or timing attacks could potentially correlate transactions between the Grid and Private wallets, especially if users make transfers between wallets frequently or in distinctive amounts. The platform's dual-wallet model creates metadata that, if mishandled, could link compliant and anonymous identities.
Platform and Custody Risk: Users maintain self-custody of their funds, which protects against platform insolvency but exposes users to complete loss if private keys are lost or stolen. The platform is in pre-beta with no operational history, meaning users face counterparty risk related to the development team's ability to execute their roadmap and maintain the platform long-term. Grid's smart account infrastructure includes vendor diversification, but failures in the banking API layer could temporarily prevent access to cards, SEPA transfers, or KYC-linked funds.
Smart Contract and MPC Implementation Risk: The platform uses complex cryptographic protocols including MPC secret sharing, encrypted balance computations, and cross-program invocations on Solana. Implementation errors in any component could result in loss of funds or privacy breaches. Stealf acknowledged plans for security audits but has not published any audit reports as of Q4 2025. The interaction between Grid's smart accounts and Arcium's MPC programs creates integration complexity that increases attack surface area.
Limited Recourse Risk: The Private wallet's no-KYC design means users have no identity verification or account recovery mechanisms beyond what's built into the technical architecture. If users send funds to wrong addresses or experience issues with anonymous transactions, there is no customer support team with the ability to reverse transactions or recover funds. Traditional fraud protection and chargeback mechanisms available with conventional cards do not apply to crypto card transactions.
