After dropping zcash in its U.K. operation last year, Coinbase has now added the privacy enhancing cryptocurrency in New York state.
The San Francisco-based crypto exchange announced the news in a tweet on Monday, saying that the state's residents can now buy, sell and exchange zcash on Coinbase.com, as well as in its iOS and Android apps.
Last August, Coinbase U.K. quietly dropped support for zcash, providing no reason in letters to its customers.
The move came as British regulators were saying that exchange platforms may need to be able to provide personal data on transactors of cryptocurrencies.
Zcash allows users the option to conceal details of their transactions using a type of zero-knowledge proof called zk-SNARKs.
Coinbase had previously said when it added zcash in late 2018 that it would support both shielded and unshielded addresses, but would only allow unshielded withdrawals.
Also announced by the exchange for New York users on Monday was the addition of the dollar-linked USDC stablecoin, first issued by Coinbase and Circle Financial as part of the CENTRE consortium back in the autumn of 2018.Coinbase stated allowing U.S. users to earn interest on their holdings of the stablecoin last October, at an annual percentage yield of 1.25 percent.
It is not yet clear if that will now extend to New York users.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Coinbase Adds Support for 2 More Cryptocurrencies in New York State
gepubliceerd op Feb 11, 2020
by Coindesk | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.