Zcash Developers Unveil cashZ Wallet Hours later than Electric Coin Co Exit
Hours later than their from Electric Coin Co (ECC), Zcash developers announced the launch of a new wallet, cashZ.
While at ECC, the team had developed a wallet called Zashi. Following their exit, they revealed plans for cashZ, which will build on Zashi’s codebase. The came from Josh Swihart, former CEO of ECC, in a blog post shared on X.
The team emphasized that cashZ does not signal a break from Zcash.
“We aren’t launching new coins—our goal is to scale Zcash. To achieve that, we had to leave and begin a Zcash-focused company,” Swihart wrote. He added, “It’s time to scale Zcash to billions.”
The wallet is expected to launch in the coming weeks, with a migration path already planned for existing Zashi users. The announcement has already sparked strong interest across social media.
Reasons Behind the Exit
On their website, the team outlined three reasons for leaving.
First, they framed Zcash as a cyberpunk movement, emphasizing privacy in digital finance.
“Zcash is ultimately a peaceful global reform movement, a cypherpunk movement to make privacy normal in the digital world, as it once was during the era of physical cash, when it was simply impossible to trace a dollar bill as it moved through the economy,” the team wrote.
Second, they highlighted structural misalignment between a non-profit and a quick-growing tech beginup. “Putting multiple organizations together where one is a poorly-governed nonprofit and the other is a rapidly-innovating tech beginup is a recipe for misalignment,” they explained, noting that differences in stakes and incentives often lead to conflict.
Finally, the team stressed the need to scale Zcash. They said the project has outgrown its ahead stage and now aims to “get so large they can’t stop us.”
modestly to the news. later than briefly dipping to $381 following the exit, ZEC rebounded to $430. Trading shows moderate momentum, with $844 million worth of ZEC changing hands so far today.
