Following the shutdown of zcash in the UK last year, Coinbase added cryptocurrency to enhance privacy in New York State.
On Monday, the San Francisco Stock Exchange announced this on a tweet, saying that state residents can now buy, sell, and trade Zcash (ZEC) at Coinbase.com, as well as in their iOS and Android apps.
Zcash ($ ZEC) is now available to New York residents at https://t.co/bCG11KMQ6s and in the Coinbase iOS and Android apps. New York residents can log in to buy, sell, convert, send, receive, or store these assets here: https://t.co/EYFiB1jXTs pic.twitter.com/cmSSDHJeIa
- Coinbase (@coinbase) February 10, 2020
In August last year, Coinbase UK quietly refused to support Zcash, without indicating a reason in the letters to its customers. However, this step occurred when British regulators said that exchange platforms may need to be able to provide personal cryptocurrency transaction data.
Zcash gives users the ability to hide (or hide) the details of their transactions using a type of evidence with zero disclosure called zk-SNARKs. Earlier, when Coinbase added Zcash at the end of 2018, it stated that it would support both shielded and unshielded addresses, but would only allow unshielded withdrawals.
On Monday, the New York Exchange also announced the addition of a stable USDC coin in dollars, first issued by Coinbase and Circle Financial as part of the CENTER consortium in the fall of 2018.
USDC ($ USDC) is now available to New York residents at https://t.co/bCG11KMQ6s and in the Coinbase iOS and Android apps. New York residents can log in to buy, sell, convert, send, receive, or store these assets here: https://t.co/EYFiB1jXTs pic.twitter.com/fxSICVlS86
- Coinbase (@coinbase) February 10, 2020
Coinbase said it allowed U.S. users to earn interest on their stablecoin holdings in October last year with an annual percentage return of 1,25 percent. It is not yet clear if this will now apply to New York users.