Coinbase Launches Wrapped ZEC on Base Network, Unifying Zcash Trading

Coinbase Wrapped ZEC (CBZEC) is a token on the Base network that represents Zcash (ZEC) held by Coinbase. Each cbZEC is backed 1:1 by ZEC in Coinbase custody, allowing users to use ZEC in DeFi apps on Base.

Coinbase allows eligible customers to send wrapped versions of certain cryptocurrencies to wallet addresses on supported blockchains, enabling customers to transact on multiple networks while maintaining a single, unified balance of the native tokens in their Coinbase accounts. Each wrapped asset is backed 1:1 by its original cryptocurrency.

The tokenomics of CBZEC describe its economic model, including its supply, distribution, and utility within the ecosystem. Factors such as total supply, circulating supply, and token allocation to the team, investors, or community play a major role in shaping its market behavior.