Digital Currency Group Adds Zcash Offshoot ZenCash to Crypto Investment List

Digital Currency Group has added ZenCash, a little-known, privacy-focused coin, to its "Conviction list" of cryptocurrencies.

The other coins on the list are bitcoin, ethereum classic, zcash and Decentraland.

Speaking at the Stocktoberfest East conference in New York City, Digital Currency Group founder and CEO Barry Silbert asked audience members to raise their hands if they owned offshore bank accounts.

For this reason, Silbert said, privacy coins were one of Digital Currency Group's primary focuses.

That category includes the relatively prominent zcash, of which the lesser-known ZenCash is a fork of a fork - via ZClassic.

"I love the team," Silbert said of ZenCash Wednesday, "I love the vision, and the community that we've gotten to know is incredibly passionate."

Silbert said that ZenCash formed part of Digital Currency Group's "Conviction list," meaning that the firm has "Meaningful dollars in a token."

Despite his enthusiasm for certain digital assets Silbert made it clear that the space as a whole is rife with soon-to-be flops.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group.

CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.