eToro, the global, multi-asset, investment platform with more than ten million registered users, has added ZCash (ZEC) to its product range. This brings the total number of cryptoassets available on eToro to 14.
ZCash is a decentralized payments network, designed to offer users greater privacy options. It was developed in 2016, and counts Johns Hopkins University’s cryptographer Matthew D. Green amongst its founders.
Transactions can be “transparent”, in which case the network operates much like Bitcoin, or they can be “shielded”, meaning sender, recipient and payment values are not published on a public blockchain, eToro said in a statement. This structure allows for payment audits to be completed, but only at the user’s discretion.
ZEC joins Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO, EOS, Cardano, IOTA, and BNB on the eToro platform.
ZEC will also be added to eToro’s CryptoPortfolio, which enables investors to diversify across all available cryptoassets (weighted by market cap).
“The way in which we transfer money from person to person, or company to company is constantly evolving,” eToro co-founder and CEO Yoni Assia said. “It is not surprising that others have taken on some of the core ideas behind Bitcoin and developed new payment networks with additional features – in the case of Zcash – privacy. We are excited to offer ZEC to eToro investors as they seek to diversify their cryptoasset holdings.”
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