We propose a scheme for quantum cryptography that uses the squeezing phase of a two-mode squeezed state to transmit information securely between two parties. The basic principle behind this scheme is the fact that each mode of the squeezed field by itself does not contain any information regarding the squeezing phase. The squeezing phase can only be obtained through a joint measurement of the two modes. This, combined with the fact that it is possible to perform remote squeezing measurements, makes it possible to implement a secure quantum communication scheme in which a deterministic signal can be transmitted directly between two parties while the encryption is done automatically by the quantum correlations present in the two-mode squeezed state.
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