Coinbase CEO reveals 'private transactions' are coming to Base

Coinbase CEO Brian Armstrong credited the company’s acquisition of Iron Fish in March to drive the effort, though there are questions about how private the transactions really will be.

Coinbase CEO Brian Armstrong said his team is moving closer toward making private stablecoin transactions possible on the Ethereum layer-2, Base, which could bring a much-needed boost to privacy on public blockchains.

“Base is building private transactions,” Armstrong said in a post to X on Tuesday, noting that Coinbase acquired crypto privacy platform Iron Fish in March to deliver on that mission.

Many respondents asked whether the privacy solution would mandate Know Your Client checks; however, Armstrong didn’t address those concerns, stating that more details would be shared soon.

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