{"id":30515,"date":"2020-10-22T14:44:05","date_gmt":"2020-10-22T11:44:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=30515"},"modified":"2025-08-27T22:42:11","modified_gmt":"2025-08-27T19:42:11","slug":"zcash-launches-on-ethereum-as-wrapped-zcash-wzec-token","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/zcash-launches-on-ethereum-as-wrapped-zcash-wzec-token\/","title":{"rendered":"Zcash launches on Ethereum as Wrapped Zcash (WZEC) token"},"content":{"rendered":"<p>Holders of the privacy-focused cryptocurrency Zcash (ZEC) will be able to use it in the Ethereum ecosystem in the form of Wrapped Zcash (WZEC), a &#8216;wrapped&#8217; ERC-1404 token. This capability has arisen thanks to the collaboration between custodian Anchorage and the TokenSoft platform.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We\u2019re proud to support the launch of <a href=\"https:\/\/t.co\/HNroVZlw9J\">https:\/\/t.co\/HNroVZlw9J<\/a>, a collaboration with <a href=\"https:\/\/twitter.com\/Anchorage?ref_src=twsrc%5Etfw\">@Anchorage<\/a> and <a href=\"https:\/\/twitter.com\/cmsholdings?ref_src=twsrc%5Etfw\">@cmsholdings<\/a>. A partnership designed to provide access to layer one protocols, more about the partnership here: <a href=\"https:\/\/t.co\/NAOt4w03pW\">https:\/\/t.co\/NAOt4w03pW<\/a><\/p>\n<p>\u2014 Tokensoft Inc. (@TokensoftInc) <a href=\"https:\/\/twitter.com\/TokensoftInc\/status\/1318964845690093569?ref_src=twsrc%5Etfw\">October 21, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Tokensoft took on the task of the service&#8217;s technical development, with Anchorage handling custody of the assets that back the token.<\/p>\n<p>&#8216;Zcash on Ethereum,&#8217; like other similar tokens, is pegged to the underlying asset at 1:1.<\/p>\n<p>WZEC has the following properties:<\/p>\n<ul>\n<li>Access to shielded Zcash addresses on Ethereum without compromising privacy.<\/li>\n<li>Zcash compatibility with decentralized applications such as Maker, Uniswap and Compound.<\/li>\n<li>Optimized integration with wallets and exchanges integrated with Ethereum.<\/li>\n<\/ul>\n<blockquote>\n<p>&#8216;WZEC will add liquidity to DeFi and allow users to derive value from the properties that make Layer-1 protocols unique,&#8217; said Nathan McCauley, co-founder and CEO of Anchorage.<\/p>\n<p>&#8216;Exchanges will now be able to custody Zcash in a way that complies with regulatory requirements,&#8217; added another advantage of the new token, Mason Borda, CEO of Tokensoft.<\/p>\n<\/blockquote>\n<p>As part of the Wrapped project, the company plans to expand the roster of wrapped tokens in the future. Among those under consideration are Handshake (HNS), Avalanche (AVAX) and Celo (CELO).<\/p>\n<p>Earlier, the token-sale platform CoinList <a href=\"https:\/\/forklog.com\/en\/news\/coinlist-issues-a-record-wbtc-batch-worth-57-1-million\">updated<\/a> a record for the daily issuance of the Bitcoin-backed Wrapped Bitcoin (WBTC).<\/p>\n<p>According to BTC on Ethereum, the total value of WBTC reached nearly $1.39 billion. Behind it by a large margin are renBTC ($339.1 million), HBTC ($78.0 million) and sBTC ($29.7 million).<\/p>\n<p>The total market capitalization of Ethereum-based tokens pegged to Bitcoin stands at $1.86 billion.<\/p>\n<p>In this market segment, WBTC accounts for 74.2%. RenBTC \u2014 18.2%, HBTC \u2014 4.16%.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Holders of the privacy-focused cryptocurrency Zcash (ZEC) will be able to use it in the Ethereum ecosystem in the form of Wrapped Zcash (WZEC), a &#8216;wrapped&#8217; ERC-1404 token. This capability has arisen thanks to the collaboration between custodian Anchorage and the TokenSoft platform.<\/p>\n","protected":false},"author":1,"featured_media":30516,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1991,46,1904,202],"class_list":["post-30515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-anchorage","tag-ethereum","tag-tokensoft","tag-zcash"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=30515"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30515\/revisions"}],"predecessor-version":[{"id":30517,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30515\/revisions\/30517"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/30516"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=30515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=30515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=30515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}