Coinbase to Bring Private Stablecoin Transfers to Base

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Coinbase to Bring Private Stablecoin Transfers to Base Network

Written by Aaron S.,

Editor-In-Chief

Last Updated: October 22, 2025

Key Takeaways

Coinbase is working to enable private stablecoin transfers on its Base network, following the acquisition of crypto privacy platform Iron Fish;
Iron Fish allows transaction data to stay hidden while offering "view keys" that let users share limited access with authorities if required;
Armstrong has not yet confirmed if identity checks like KYC will be needed for using the new features.

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Coinbase to Bring Private Stablecoin Transfers to Base Network

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Coinbase $632.94M has announced plans to add private transaction features to its Base network, according to CEO Brian Armstrong.

In an October 21 post on X, he explained that the company is working toward enabling confidential stablecoin transfers on its Ethereum ETH $3,050.13 layer-2 platform.

This development follows Coinbase’s acquisition of Iron Fish, a crypto privacy company.

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While many people asked whether this feature would require identity checks such as Know Your Customer (KYC) verification, Armstrong did not respond to those questions.

Iron Fish’s current setup allows for transaction data to remain hidden, but it also gives users the option to share limited information with authorities when required.

This is done through "view keys", which can provide read-only access to specific account details. These keys are created when a user opens an Iron Fish account.

Iron Fish uses a technique called zero-knowledge proofs. This allows someone to prove a fact about a transaction, such as that it followed certain rules, without showing all of the underlying information.

The Iron Fish system also connects to other blockchains using a tool called ChainPort. This bridge adds real-time security checks to stop suspicious or illegal funds from entering the network.

Currently, Iron Fish supports privacy options on more than 20 networks, including Base. Through ChainPort, users can also access a private version of wrapped USDC USDC $1.00 on Base.

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