Coinbase CEO Brian Armstrong announced plans to enable private stablecoin transactions on Base, an Ethereum layer-2 network. This initiative aims to enhance privacy on public blockchains. Armstrong revealed that Coinbase's acquisition of crypto privacy platform Iron Fish in March is pivotal to this development. While details on privacy measures and potential Know Your Client requirements remain undisclosed, Armstrong promised further information soon. Iron Fish's privacy technology, which employs zero-knowledge proofs and "view keys," will underpin Base's private transactions. This approach allows users to maintain transaction privacy while providing necessary data to authorities if required. Despite these privacy enhancements, the solution may not offer complete anonymity, as it allows for selective data disclosure. Iron Fish's technology is already operational across over 20 blockchains, including Base, supporting privacy-enhanced versions of wrapped USDC.