Coinbase CEO Armstrong Announces Upcoming Private Stablecoin Transactions on Base Network

Coinbase CEO Brian Armstrong announced that the company is developing private stablecoin transactions on its Ethereum layer-2 network, Base, following its acquisition of privacy-focused blockchain Iron Fish earlier in 2025. This initiative aims to enhance user privacy on public blockchains by using technologies like zero-knowledge proofs and view keys, which allow users to maintain transaction confidentiality while still enabling regulated access for authorities if necessary. The move addresses growing demand for privacy in crypto transactions to protect financial data and reduce hacking risks, but also raises regulatory concerns due to potential illicit use. Privacy coins have seen a resurgence despite past crackdowns, with data indicating only a small fraction of transactions involve illicit activity. Armstrong has not yet clarified whether Know Your Client (KYC) checks will apply to these private transactions, leaving some community questions unanswered. In addition to privacy efforts, Coinbase continues to expand its ecosystem with acquisitions like Echo, a platform for on-chain fundraising.