Coinbase CEO Brian Armstrong revealed that his team is developing private stablecoin transactions on Base — an Ethereum layer-2 network, aimed at enhancing security for blockchain users. Armstrong stated that Coinbase acquired the security platform Iron Fish in March to support this goal.
Although it is not yet clear whether the solution will require identity verification (KYC) or not, Armstrong confirmed that details will be announced soon. Iron Fish uses zero-knowledge proof technology (zk-proof) and a “view key” to keep transactions confidential, while still allowing data disclosure when required by authorities.
Despite aiming for privacy, Iron Fish is not completely anonymous, as it still complies with legal regulations. The system also integrates the ChainPort bridge to control and prevent illegal money flows, contributing to a balance between personal security and regulatory compliance.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
