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Veil Cash

VEIL
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Shariah Analysis

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Last Screening: Q1 2024

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About Veil Cash

Veil Cash is a non-custodial privacy protocol built on the Base Layer 2 (L2) blockchain that enables private transactions of ETH using advanced zero-knowledge technology, specifically zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Arguments of Knowledge). The platform allows users to send, receive, and manage crypto while preserving on-chain privacy and anonymity through trusted privacy pools. By integrating Coinbase's Ethereum Attestation Service (EAS), Veil Cash allows over 500,000 onchain-verified Coinbase users to access verified privacy pools, ensuring that transactions are conducted by legitimate and verified participants. The system leverages Ethereum-based attestations to link verified Coinbase accounts with self-custodial wallets, enhancing both security and compliance. Veil offers multiple privacy solutions, including Veil Pool for flexible deposits and withdrawals without fixed denominations, and Veil Fixed Pools for users seeking to obscure the link between deposit and withdrawal activities. The platform also features a Quick Deposit option that enables users to send ETH privately to verified addresses without needing to generate ZK proofs manually. Veil Cash imposes a 0.3% fee on all deposits, collected automatically, to support the protocol's sustainability.

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