Coinbase Unveils Plans for Private Stablecoin Transactions on Base Network

Coinbase CEO Brian Armstrong announced on Tuesday that the company is working to enable private stablecoin transactions on its Layer 2 network, Base. This move could pave the way for increased financial privacy in public blockchains. The announcement highlights Coinbase’s acquisition of the crypto privacy platform Iron Fish earlier this year, a strategic step toward enabling confidential blockchain activity within regulatory boundaries. While details remain undisclosed, many are curious whether KYC checks will be required by the system. Armstrong provided further insights to be shared soon.