Coinbase will be launching Zcash on their Coinbase Pro trading platform, traders will be able to send deposits from the 29th November with trading scheduled to start on the platform 12 hours later.
Zcash is a cryptocurrency that uses recent advances in cryptography to allow users to protect the privacy of transactions at their discretion.
“Initially, we will support deposits from both transparent and shielded addresses, but only support withdrawals to transparent addresses,” a statement said.
ZEC is launching on Coinbase Pro. Starting at 10am PT, customers can transfer ZEC into their Coinbase Pro account. Traders can deposit ZEC, but cannot place or fill orders. Order books will remain in transfer-only mode for at least 12 hours. https://t.co/5nADybxqKk
— Coinbase Pro (@CoinbasePro) November 29, 2018
ZEC trading will initially be accessible for Coinbase Pro users in the US (excluding NY), UK, European Union, Canada, Singapore and Australia. Additional jurisdictions will be added at a later date.
Zcash is today the 19th biggest cryptocurrency and has a market cap of close to $0.5 billion. Zcash spiked in price over 10% to $91 on the news of the Coinbase listing.