Midnight launches mainnet with Google Cloud, MoneyGram, and eToro operating node startups

Midnight, a privacy-focused zero-knowledge network, will launch its mainnet Kūkolu in late March 2026 with a “federated” operating model, where Google Cloud, MoneyGram, Pairpoint (a joint venture between Vodafone and Sumitomo Corporation), and eToro will operate the initial nodes.

Midnight does not position itself as a “privacy coin,” but as a selective disclosure infrastructure that allows organizations to prove compliance with KYC/AML, eligibility conditions, or complete payments without publicly revealing customer data on the blockchain.

In the launch phase, the network will be operated by a designated group of operators to ensure stability and uptime before transitioning to a broader decentralized model, although no specific timeline has been set for this process.

Alongside major names like Google Cloud and MoneyGram, validator service provider Blockdaemon is also participating, along with AlphaTON and Shielded Technologies. The initial target is approximately 10 nodes, but the full list has not yet been disclosed.

Midnight, citing research from Aleo, states that the total stablecoin volume held by organizations reaches $1,220,000,000,000, but only 0.0013% is paid through privacy-enabled infrastructure. This rate could increase to 0.08–1% once compliance tools are fully developed, translating to $1–12.5 billion per month moving into “privacy rails.”

According to a Pew Research Center survey, 81% of respondents are concerned about how companies use their data, and 62% believe they cannot go about their daily lives without data collection—reinforcing the need for secure yet compliant infrastructure.

Midnight believes the federated model is a deliberate trade-off: prioritizing operational reliability for businesses over immediate pursuit of absolute decentralization. However, industry observers suggest that true success will depend on a clear decentralization roadmap, onboarding criteria for validators, and especially the deployment of practical applications after mainnet.

The end of March marks the kickoff. Subsequently, the pace of decentralization, the number of production applications, and the extent of selective disclosure in real compliance processes will determine whether Midnight becomes a compliant infrastructure layer for digital assets or remains a test network with major industry players.