Coinbase Lists USDC, Zcash for New York Residents

The exchange, last year, delisted Zcash for its UK-based clients.

Coinbase, a leading US-based crypto exchange, has launched trading services with USDC and Zcash for its New York-based clients.

Announced on Twitter, the exchange opened trading with the two digital currencies across all its platforms – Coinbase.com and mobile apps for both iOS and Android.

Welcoming privacy coins

The San Francisco-headquartered exchange introduced trading with both the tokens in late 2018; however, the New York residents were deprived of the services due to the strict regulatory rules of the state.

Notably, Coinbase quietly delisted Zcash from its offerings to its UK-based customers last August without citing any motive behind the move.

Based on zk-SNARKs, a type of zero-knowledge proof, Zcash is one of the privacy coins. However, unlike other privacy tokens, it can also disclose some details of the transactions.

Suggested articles

Could Advanced Execution Engines Help Exploit Volatile Markets?Go to article >>

Coinbase earlier mentioned that it would allow both shielded and unshielded addresses of Zcash; however, only allow withdrawals with unshielded addresses for transparency.

USDC, on the other hand, is a US dollar-pegged token first issued by the CENTRE consortium, formed with the collaboration of both Coinbase and Circle Financials, in 2018.

Last September, the crypto exchange started offering trading services with Stellar Lumens (XLM) and Chainlink (LINK) to the New York-based traders.

Coinbase is also embracing privacy coins with open arms as it also listed Dash last year following the delisting of the digital currency by major exchanges like UpBit and OKEx. In addition, it has plans to list many more coins, which include Polkadot, Filecoin, and Telegram’s Gram token.

Got a news tip? Let Us Know