Privacy coin Zcash (ZEC) will soon have a tokenized form on the Ethereum blockchain as securities-focused company Tokensoft and institutional custodian Anchorage announced on October 21 that it would design Wrapped Zcash (WZEC).
- Anchorage and Tokensoft have partnered to launch Wrapped, a new service that will wrap various assets and bring it to Ethereum
- Zcash will be the first such wrapped asset, with more expected in the future
- WZEC will be represented on Ethereum on a 1:1 ratio, and will provide more liquidity to DEXs
- The asset is based on the ERC-1404 standard, a smart contract designed by TokenSoft that allows free transfer of Zcash on Ethereum while adhering to global compliance standards
- Features will includes the full privacy features of Zcash on Ethereum, interoperability of Zcash with Maker, Uniswap, Compound and other DApps, and integration with Ethereum wallets and exchanges