Privacy Coin Zcash Community to Develop Wrapped Token for Ethereum

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The privacy-focused cryptocurrency Zcash is seeking access to Ethereum's decentralized finance ecosystem.

Zcash's shielded addresses on the Ethereum network.

On Oct. 13, Coindesk reported that the topic of interoperability was the theme of the now concluded Devcon 5 developer conference in Osaka, Japan, where a number of smaller cryptocurrency projects displayed interest in accessing Ethereum's DeFi ecosystem.

"Connecting to other chains doesn't seem to be an Ethereum developer's priority, but other chains seem to want to connect to Ethereum."

"If you want to do lending, if you want to do DAOs , all of that stuff could be done with Zcash as well Ultimately, we want Zcash shielded [addresses] to be usable in Ethereum smart contracts."

"You don't want to be the kid at Chuck E. Cheese where everyone knows you have all the tokens."

Cointelegraph previously reported that South Korean cryptocurrency exchange Upbit was ceasing trading support for six cryptocurrencies, including Zcash.

The exchange clarified that the reason for delisting these six privacy coins is to block the possibility of money laundering and the inflow from external networks.

OKEx Korea confirmed it would halt trading of Zcash and other privacy- focussed coins.

The exchange said that the coins fall foul of new guidelines set out by the intergovernmental body the Financial Action Task Force.

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